TSIIC eyes Rs 1000 crore windfall from e-auction of land parcels

HYDERABAD: After HMDA, it is now the turn of TSIIC (Telangana State Industrial Infrastructure Corporation) to e-auction land parcels, which it will be doing at Manneguda, Munaganoor and Kawadipally. This is expected to garner between Rs 800 crore and Rs 1,000 crore. MSTC Limited will be the service provider for the e-auction.

Officials informed that the notified land parcels will be sold through e-auction on a ‘as is where is’ basis. The bidders should satisfy themselves with regard to all aspects as it will be deemed that the individual has inspected the open plots and found them suitable for construction. No claims are maintainable against TSIIC, thereafter. Lots put up for sale are available for inspection.

According to TSIIC authorities, the Manneguda project situated on the Nagarjunasagar highway is a 38.73 acres layout. This is a residential layout comprising 274 plots, out of which 83 plots have been allotted. The remaining 166 plots will have varying sizes ranging from 156.67 sq.yd to 643 sq.yd The ORR is just three km away.

Munaganoor is in the eastern side of Hyderabad. The green layout project comprises 390 plots, out of which 43 plots have been sold or allotted. The size of the 152 plots up for auction will be from 180 sq.yd to 539 sq.yd.

The sale of plots in the Kawadipally project will be in association with Rajiv Swagruha Corporation Limited. It comprises 117 plots, of which 61 plots have been sold or allotted. The available 52 plots will range from 182 sq.yd to 375 sq. yd.

TSIIC authorities said that apart from the minimum start price, the bidders should add minimum increment value Rs 500 per sq.yd or multiples thereon for Munaganoor and Manneguda sites and Rs 100 per sq.yd or multiples thereon for Kawadipally as indicated against each lot/land parcel.

"If any valid bid is received eight minutes before closing time, the closing time will be extended by eight minutes, thus giving equal opportunity to all participants to revise their bids on that lot. During normal and extended periods of e-auction, bidders can increase the bid amount by a minimum of Rs 500 per sq.yd and Rs 100 per sq.yd per unit of measure (UoM) and its multiples for each land parcel/plot. For instance: If the last bid in live auction floor for one lot/plot is Rs 5,000, then buyers have to bid by minimum increment to the last bid or multiples thereof that is Rs 5,500, Rs 6,000, Rs 6,500 for Munaganoor and Manneguda sites and Rs 5,100, Rs 5,200, Rs 5,300 for Kawadipally site, TSIIC authorities informed.

Furthermore, the government is expecting Rs 2,200 crore by selling 30 acres at Neopolis and 40 acres at Uppal Bhagath phase 3.

Prospective buyers should contact TSIIC for any queries and for fixing field visits to the site.

( Source : Deccan Chronicle. )
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