Unitech, Delhi wins 164 Acre land - HUDA Budvel Auction
TOI 31.01.08

A 164 acre prime land located in Budvel in Ranga Reddy district was bought by a Delhi-based real estate company Unitech Properties and Infrastructure Limited at a price of Rs 4.02 crore per acre. The site is located just 0.5 km from the Outer Ring Road (ORR) and connected to the upcoming international airport at Shamshabad.

A few more real estate companies too are making a beeline for land land in and around the twin cities to start their new ventures.

“Though Huda had fixed Rs 4 crore per acre as reserve price, there was no healthy competition between bidders. The price was fixed as per the rate prevailing in the market,” ORR officer-on special duty (OSD) Ch Sridhar told ‘TOI.’

“Huda invited bids for selling prime land at the reserve price of Rs 4 crore per acre. Three Delhi-based companies Unitech, DLF and Ansal came forward and submitted their financial and technical bids on January 18,” he said.

Then, the committee which was set up to scrutinise the bids finalised Unitech as it quoted Rs 4,02,50,000 (Rs 4.02 crore) per acre, while Ansal quoted Rs 4,00,50,000 per acre. The committee rejected DLF’s bid as the company failed to submit its technical bid, the ORR official said. Huda had proposed to develop an integrated township at the site as it is located just 0.5 kms from the Outer Ring Road (ORR) and is connected to the new international airport.

Meanwhile, Budvel farmers are opposing Huda’s move to sell the land. They have criticised it for taking over their land which they had been cultivating for over four decades.