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Hyderabad News.Get Ready! e-Auction for plots in HMDA Uppal Bhagat Township is on April 7th and 8th, 2019


(Excl Ventures News.)HMDA has engaged MSTC, a Central government enterprise to conduct the e-auction of 67 plots in Uppal Bhagat. The plots have been divided into different slots and e-auction will be conducted at different time for the plots on two days between April 7 and April 8.

On 25th March, HMDA conducted a pre-bid meeting with ~300 potential buyers, who had registered to participate in the e-auction of 67 plots in the Uppal Bhagayath Phase II, at Tarnaka office
Unlike last year, HMDA is facilitating sliding opting for bidders in auction, which will allow them now to quote their prices for plots in different slots, based on the payment of Earnest Money Deposit (EMD) and the balance in respective online wallets at the time of bidding.

Senior officials said that HMDA is making foolproof arrangements to avoid any glitches in the e-auction process, authorities said. Learning lessons from the past, this time, the EMD amount will remain in the bidder’s wallet with MSTC and will not be transferred into bank accounts as was done last time. This will ensure easy repayment of EMDs to the unsuccessful bidders.

HMDA is also extending partnership deed, facilitating four to five persons to participate as a single bidder in the auction. All the group members’ names have to be registered and they will have to nominate one person as managing partner, who will participate in the bidding on behalf of the group.

HMDA is also extending payment in installments by levying simple interest for the payment tenure. The first two months will be interest-free, HMDA official said.

Additional servers are being installed at secured locations to serve as backup in case of any snags. The backup will be taken in micro seconds and bidders will not have any problems in the bidding process, authorities added.
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