E-auction of five plots in Khanamet nets Rs 729.41 cr

Hyderabad: After the auction of eight prime plots at Kokapet, which generated a record Rs 2,000.37 crore for the government on Thursday, the e-auction of five plots at Khanamet mopped up another Rs 729.41 crore. The average per-acre bid at the e-auction was Rs 48.92 crore, while the highest bid amount was Rs 55 crore and the lowest was at Rs 43.6 crore.

The Telangana State Industrial Infrastructure Corporation (TSIIC) had undertaken auction of government land parcels to the extent of 14.91 acres in Khanamet village in Survey No 41/14, near Hitex/HICC, abutting Hitec City. The auction was conducted on the MSTC (Government of India Undertaking) platform through an online bidding process.

The minimum bid amount was kept at Rs 25 crore per acre with a minimum bid increment of Rs 20 lakh or its multiples per acre. Although the upset bid amount was Rs 25 crore per acre, bids ranged from Rs 43.60 crore per acre with a weighted average bid amount of Rs 48.92 crore per acre. The final bid of Rs 55 crore per acre for plot No. 14 measuring 2.92 acres is the highest bid. Overall, a total of Rs 729.41 crore will be generated through this auction.

Manjeera Constructions Ltd was the highest bidder in the e-auction with Rs 55 crore per acre. It will purchase 2.92 acres in Plot No 14, followed by GVPR Engineers Ltd who bid Rs 50.40 crore per acre for 3.6 acres in Plot No. 12, Linkwell Telesystems Pvt Ltd with Rs 48.60crore per acre will purchase 3.15 acre in Plot No. 4, Linkwell Telesystems Pvt Ltd bid Rs 46.20 crore per acre is to purchase two acres in Plot No. 17 while Uptown Life Projects Pvt Ltd with Rs 43.6 crore per acre will purchase 3.15 acre in Plot No. 6.