Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) will conduct an e-auction of 44 plots spread over 1,35,401 square yards in Uppal Bhagayat Layout. Slated for December 2 and 3, the e-auctioning will be conducted under the aegis of the central government undertaking, MSTC Limited.
The plots that will go under the hammer are of different sizes, starting from 150 square yards to 15,149 square yards. The layout is proposed for multi-purpose usage and a road grid of 18m, 24m and 30m with dual carriageway will facilitate high-rise buildings.
Among the total 44 plots, 21 are marked for residential purposes, 15 for multipurpose use, four plots for entertainment and recreational purposes while two plots have been earmarked for hospitals. The minimum upset price will be Rs 35,000 per square yard and the minimum bid increment Rs 1,000 square yard or multiples thereof. For plots up to 300 square yards, the earnest money deposit (EMD) or pre-bid amount is Rs three lakh per plot and for plots up to 2001 square yards and above, the EMD is Rs 15 lakh. Besides local real estate companies, even developers, builders and representatives of companies/ agencies can participate in the auction.
HMDA is auctioning the plots on behalf of the state government.
