Hyderabad development body eyes to mop up Rs 540 crore from Uppal Bhagat layout auction

Hyderabad development body eyes to mop up Rs 540 crore from Uppal Bhagat layout auction
22/08/2018 , by , in ALLIED

Buoyed by the response to its e-land auctions conducted four months ago, the Hyderabad Metropolitan Development Authority (HMDA) is going ahead with another round of eauctions for the plots at Uppal Bhagat layout near Nagole and some leftover plots to mop up Rs 540 crore. As many as 95 plots in an extent of 1.44 lakh square yards would be up for auction. The last date for registrations is September 6 and auctions will be held on September 8.

In Uppal Bhagat, the upset price for one square yard has been fixed at Rs 28,000 for all the 67 plots. Municipal administration minister KT Rama Rao released a brochure on Monday pertaining to the auction. HMDA metropolitan commissioner T Chiranjeevulu said of the total 95 plots, 67 are in the newly-developed Uppal Bhagat layout, while 28 plots went unsold in the previous auctions. He said people who wish to register their names have to pay Rs 500 plus GST before September and 10 per cent of the upset price towards earnest money deposit (EMD).

“Successful bidders will have to pay 25 per cent of the bid amount within one week after the auction and getting the allocation letter. The amount can be paid with 10 per cent interest within 90 days and with 12 per cent interest in 180 days and with 15 per cent in a year,” Chiranjeevulu said. Along with Uppal Bhagat layout plots, leftover plots in Mailardevpally, Madhuban residential complex, Neknampur, Attapur, Annantaram, Bachupally, Dhoolapally and Julapally areas will also be up for the auction.

HMDA had conducted e-auction in April this year for 210 open plots in Miyapur, Chandanagar, Jubilee Hills, Nallagandla, Attapur, Tellapur, Vanasthalipuram, Shaikpet, Shankarpally, Annantaram, Bachupally, Dhoolapally, Dundigal, BhongirGhatkesar and Pocharam and earned Rs 352 crore from 189 plots.

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