Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) will get richer by Rs 500 crore if the government gives its consent to auction the developed plots in Uppal Bhagat layout that is at a stone’s throw away from Nagole Metro Rail station. Developed plots of around 1.11 lakh sq.yards, of varied sizes, are readily available with already laid roads and electricity lines, drinking water and drainage facilities. This is the city’s share of 413 acres that was developed after taking land from farmers in Uppal Bhagat.
While farmers were handed over their plots and allotment certificates, the urban body is waiting to dispose of its share of developed plots that can fetch huge revenues to the exchequer. With the layout in close proximity to Uppal and Nagole, land rates are on the higher side. Government rate itself is in the range of Rs 15,000 to Rs 20,000 per square yard.
Apart from this, HMDA has another 72 acres of open land in this layout, which is being developed currently. Since the roads that are being built are of 100 feet and 80 feet, the authorities expect to be left with only 50 percent of area for plots.
Road building and other facilities are expected to be incorporated within a month. Once this is done, HMDA will have nearly 2.6 to 2.7 lakh sq.yards of developed land that it can sell through auction. Since this a prime area, the urban body is very confident of having many takers for these plots.
“The ball is in the government’s court. Once they approve, HMDA will go ahead with auction process”, an official said.
