44 plots up for e-auction in Uppal Bhagayath in Hyderabad

Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) is all set to go for electronic auction of 44 plots in the Uppal Bhagayath region in Hyderabad on December 2-3, 2021.This is third e-auction being undertaken in the area by HMDA which mopped up Rs 1050 crore in first two e-auctions. The plots that are put up for sale now are in close vicinity to Nagole Metro Station and located close to Uppal-LB Nagar Inner Ring Road.

In addition to good transport facilities, the area is also home to Mini Shilparamam. The government is planning to build flyovers, skywalks and other development projects which inturn will boost the value of land, it is said.

Unlike the past, where the pre-bid meetings were held at the Nagole office, officials are planning to organise it in the Bhagayat region on November 15. The plots that are going to be auctioned come with upset price of Rs 35,000 per sq. yd and a minimum bid increment of Rs 1,000 per sq. yd which are fixed by the authorities. However, HMDA is said to be expecting around Rs 90,000 per sq yard. If this comes true, a 150 sq. yd piece of land will cost a whopping Rs 1.35 crore.

The pre-bid meet will commence at 11 am in the morning on November 15, and interest people can register for e-auction till November 30. Deadline for the payment of earnest money deposit (EMD) will also end on the same day. The e-auction will take place from 9 am on December 2 and 3.