HYDERABAD: The HMDA is all set to auction more land in the eastern part of the city. This time it will be smaller plots, aimed at the middle classes in the third phase of e-auction in the Uppal Bhagayat layout in 40 acres.
Officials, citing the experience from the first and the second phases of auctions, said they would not put on the block plots above 500 square yards. The size of each plot would be between 150 and 250 square yards to woo the middle class and garner about Rs 500 crore, official sources revealed. The HMDA has floated tenders for providing roads, external water supply and sewerage lines and other infrastructure worth about Rs 10.8 crore.
The first phase of the auction was held in April 2019 and fetched Rs 677 crore. In December 2019, the HMDA put up 124 plots for auction in the second phase, wherein residential plots were e-auctioned for Rs 79,900 per sq. yd. Overall, in the two days of the second phase auctions 39 out of 44 plots on offer were sold and HMDA earned Rs 474.61 crore.
The HMDA took up the e-auctioning of 44 developed plots spread over 1,35,408 square yards in the Uppal Bhagayat layout (The Hub of Life @ East City). On December 3 last year, 21 plots were put for e-auction, of them, 16 plots (65,247 sq. yd.) were e-auctioned by the HMDA through MSTC Limited, a Union government enterprise.
The highest bid was for Rs 72,000 per sq. yd. and lowest bid was Rs 36,000 per square yard. On December 2 last year, 23 small to medium size plots spread over 19,719 sq. yd. fetched Rs 141.65 crore. Five large commercial plots spread over 50,000 square yards which were put up in the last part of the auction, remained unsold.
A senior HMDA official requesting anonymity said after conducting two auctions, about 100 acres were available. He said after allocation of lands to various communities to construct caste-based buildings, 40 acres were available for auction.
The official said 40 acres would be divided into plots measuring 150 square yards to 250 square yards, since small plots were sold at the highest price during both the auctions. He said the phase three auction would fetch about Rs 500 crore to the HMDA.
