HMDA (HUDA) is back! This time with More than 100 Plots in Nallagandla ?Tellapur Townships -Hyderabad.
Last few auctions by HMDA had turned out to be damp squibs with the Auction Office being visited only by house flies. Unable to bear the humiliation of having to stare at empty seats, HMDA went in for online e-bidding. Except for some bored souls, who had no work and offcourse neither money nor intention to buy, no one even hit the e-bidding web pages.
Just like private developers who held-on to atsronomical rates, HMDA also was not in a mood to give- in. Even after being repeatedly rejectd by buyers, sense had not dawned on it. Meawnhile, quite of water has flown in the Musi and with it some of the "hard rate" muck, is being drained out.
With Rs.15K rate being thrown to the Auction Waste Bin during last 2 Auctions, it was expected that HMDA will reduce rate. As can be seen from the Floor Rates for the current auction, below, in Nallagndla, rates has come down by 20% from 15K to 12K per SQD
That is 3 year old rate. In the Feb 2006 auction, people had bid aggressively between Rs.8000 to 12,000 /sqd levels. Certainly, there would be several people reading this report, who would have bought in that price range from HUDA, in 2006.
Previous Auctions in Nallagandla/Tellapur
2005 - Rs.5000 to Rs.5250/sqd
2006 Feb - Rs.8000 to Rs.12000/sqd (heavy bidding was seen)
2006 July - Rs.15000 to Rs.17000/sqd
2007 July- 17,000 to 20,000/sqd
HMDA's Failed Auctions in 2008 - Rs.15,000/sqd
HMDA's Upcoming Auction in Feb 2009 - Rs.12,000/sqd (Some plots in central Nallgandla are at 15K/sqd)
Closure o Sale of Tender Documents: 18.02.2009
Closure of Acceptance of DD & Application: 18.02.2009
Review of Technical(Bid supporting Documents): 18.02.2009
Price Bid Opening : 20.02.2009
Place of Price Bid Opening: HMDA Office Greenlands
Floor Rates Fixed by HMDA
NANDAGIRI HILLS LAYOUT:
Residential Plot Only 1 : 335 SQD Rs. 40,000/sqd
Residential Land 1 Acre to 2 Acres (Total 3 Bits) - Rs.24,000/sqd
HMDA comes up with 20% Less Rate. Will there be buyers in February 2009, at these selling rates?
The Real Estate market is under extreme stress with constructed space already coming up under severe price pressure. Its natural to expect reduction in price of prime residential plots, since demand has fallen drastically. However, the fact on the ground is that the prices are remaining firm in key residential areas. May be HMDA has to show the way!
It was expected that the sluggish or NO sales in previous auctions, will force HMDA to set an example by cutting rate in Nallgandla, to around Rs.10 to 12,000/sqd. HMDA has fixed Rs.15,000/sqd in prime central areas and 12,000/sqd in for bulk of the plots in entire balance areas of Nallagandla for the current auction. That is 20% less than last Auction rate of Rs.15K/sqd.
Since the locality is clean, there is no point in paying Rs.3000/sqd more in Nallagdla itself for some plots. Whether Rs.12,000/sqd will be lapped up this time, only time will tell.
If the rate was uniformly Rs.10,000/sqd, there would have been good action. If market remains dull (as expected), we may as well hit those levels, at the next auction!
The application can be filed by SEALED Tender and submitted to GHMC office, at Greenlands. Application also can be filed online BUT it requires applicants to have Digital Signature. With just few days remaining for closure, it does not look feasible to apply for digital signature and then submit bids, online.
So all interested may have to contact relatives, obtain the hard copy of bid documents from HMDA Greenlands and submit manually in Hyderabad.
Scanned copy of EMD DD
Process Fee -Rs.500
Scanned Copy of Process Fee DD
PAN/Bank statement/Certificate of Incorporation/MOA
Address Proof: - Registration Certificate/Telephone bill in the name of the
Declaration cum Undertaking
Optional Documents (Partnership deed, Power of attorney with addresses)
EMD Amount for small plots are from 2 to 10 Lakhs. (Varies depending on selected plot)
There is no point in buying many stocks and waiting. Most people would find that "net-net" gain, after few months, is nothing but just big loss! Whatever gain is made in one, is all squared up, by losses in others.
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