After a gap of three years,the Hyderabad Metropolitan Development Authority (HMDA) could sell 50 per cent of its open plots,which were put up for auction,through e-bidding on Monday.
Of 229 leftover plots that were put for sale in various localities,117 plots were sold,fetching about Rs 67.5 crore to the authority. During previous auctions, the urban development authority could sell just three plots of 83 plots. In another auction, not a single plot was sold.
This time we could sell 50 per cent of the plots as the upset price was reduced to Rs 10,000 per square (sq) yard from Rs 18,000 in various localities, an official admitted.While the upset price was Rs 40,000 per sq yard for Nandagiri Hills plot near Jubilee Hills, the highest bidder quoted Rs 55,000 per sq yard.Only one plot was auctioned at Nandagiri Hills.
Similarly,47 of 98 plots were sold at Nallagandla, where the highest amount quoted was Rs 17,000 per sq yard. In Miyapur area,of 102 plots, 56 got good response and were sold. The highest price was Rs 14,460 per sq yard against the upset price of Rs 10,000. Most of the successful bidders were individuals and software professionals, an official of the HMDA said.
Officials said eight of the 20 plots in Ramachandrapuram and four of five plots at Mushk Mahal Residential Complex were sold.One plot each in Asifnagar and Nandagiri Hills,which were put up for auction were sold in the e-bidding.
HMDA has invited bids for 229 plots on June 21 through e-tendering which was closed on July 9 and bids were opened on Monday.
Comment :
Only 50% of the plots were sold. That is not yet a good percentage to indicate strong market. In Nallagndla one Commercial plot was sold at 17K and probably the bidder has made gross error since the plot dimension will not allow him to build apartment. The average rate if we remove this errenous bid was under 12,000/sqd.
Keyword Tags Hyderabad News,HMDA Auction, HUDA Auction, HMDA Plots, HMDA Plot Auction, Tellapur HUDA Plots, Nallagandla HUDA Plots
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