Hyderabad: The Hyderabad Metropolitan Development Authority plans to become self-sustaining in the current year. As a first move in 2018, the HMDA has decided to auction its land to mop up the necessary funds. The HMDA will sell 1.30 lakh square yards of land to generate Rs 483.45 crore.
The HMDA will conduct the sale of land via an online auction next week to ensure transparency and accountability. It will auction 30 stray bits, 76 open plots and 54 gift lands.
The HMDA has decided to auction 27,358.01 sq. yards of land at Miyapur, 13,487.97 sq yards in Chandanagar (RC Puram), 262.16 sq yards at Muksh Mahal, 200 sq yards at Attapur survey no.366, 4,372.11 sq yards at Madhapur (sec I,II,&III), 2,583.15 sq yards at Vanastalipuram, 17.985.64 sq yards at Nallagandla, 420 sq yards at Asifnagar, 6,697.60 sq yards at Tellapur, 4,482.26 sq yards at Neknampur, 2,469.38 sq yards at Saroornagar residential complex, 400.28 sq yards at Gopanpally, 7,254.51 sq yards at Chitra Layout, 21,553.79 sq yards at HUDA Heights Hakeempet, 1,914.19 sq yards at HUDA Enclave, 561.88 sq yards at Nandagiri Hills, 4,376.19 sq yards at DCC Ramchandrapuram Seri (Nalagandla) and 2,30,680.70 sq yards land from the permission granted through layout/group housing scheme.
A senior HMDA official said that the net value of the total 3,66,419.82 sq yards was Rs 483.45 crore. He said that the HMDA has been expecting to raise at least Rs 450 crore by auctioning the lands.
Land prices in this part of the city have witnessed some revision after the launch of Hyderabad Metro Rail services, the official said adding that the idea behind conducting the online auction was to facilitate more people to participate in the sale, besides ensuring transparency. The official said that the size of leftover plots in these areas vary from 60 yards to 600 yards. Apart from generating revenue, officials opined that auctioning the plots would help in saving the land from encroachments.
The HMDA official said that it had auctioned a few plots developed in different layouts at Saroornagar and other areas in the city back in 2012, but this will be its first ever e-auction.
The official said apart from this the HMDA was also banking on revenue from Land Regularisation Scheme (LRS). About 1.70 lakh applications were filed under the scheme over a year ago. Besides LRS application fee, HMDA expects to generate additional Rs 500 crore through the regularisation fee and other charges.
