Hyderabad: As many as 700 bidders have registered for the Hyderabad Metropolitan Development Authority’s second e-auction. The HMDA will conduct an e-auction for three days beginning from Wednesday. During the current e-auction, though there was a slump for a few days after the dissolution of the state Assembly, the pace has picked up in the last few days. Out of about 450 bidders registered in the second e-auction, 420 have paid earnest money deposits (EMDs) and garnered Rs 50 which cannot be refundable.
The huge land bank available with the HMDA is proving to be the backbone of the second e-auction. It has decided to auction nearly 1.37 lakh sq. yards (82 plots), out of which 1.32 lakh sq. yards are in the fully developed Uppal Bhagat layout, located very near to Nagole Metro Rail station. A big demand and a good price can be expected from realtors for the 67 vacant plots in this layout.
The HMDA will auction the Uppal Bhagat plots online on September 26 and 27, and the remaining plots on September 28. The municipal authority is expected to mop up Rs 550 crore by the selling the plots A senior HMDA official said that because of the overwhelming response from the bidders, the HMDA decided to extended the e-auction registration date by five days from September 18.
