Bids for HMDA plots to be opened today

Giving relief to the Hyderabad Metropolitan Development Authority, two bidders submitted their applications on Tuesday to purchase the jinxed Nandagiri Hills plot admeasuring 4.695 acres.

On the last day of submission of applications on Tuesday for sale of 42 plots located in different parts of the city through the e-bidding and sealed tender process, the HMDA was waiting with bated breath to see if any bidder would come for the Nandagiri Hills plot. Luck smiled on their faces as two persons submitted applications through seal tenders.  The bids will be opened at the HMDA’s office at Tarnaka at 11 am on August 8. The plots, which are are in well-developed layouts with all basic amenities, will be allotted to the highest bidder.

The HMDA is expecting to net Rs 130 crore to Rs 150 crore from the sale of the 42 plots. The sale proceeds will be utilised for undertaking some pending important developmental works such Outer Ring Road,  ramps on PVNR Expressway, parks, radial roads and flyovers.

In the previous auctions people had not shown any enthusiasm to purchase the plot as the upset price fixed by the HMDA was too high _ Rs 23 crore per acre. In view of the lukewarm response and considering the feedback from various quarters, the HMDA has lowered the upset price to Rs 18 crore an acre this time.  The HMDA expects to net somewhere between Rs 80 crore and Rs 90 crore from the sale of the prime plot.

Speaking to Express, HMDA officials said that as many as 400 applications were received for 42 plots _ Nallagandla Residential Complex (17),, Gopanpally Residential Complex  (11),  Miyapur Residential Complex (9),  Ramachandrapuram Ring Town, Chandanagar (2), Tellapur Residential Complex (1) and Asifnagar (New) Residential Complex (1).  These plots can be put to use like residential and group housing, commercial and service establishments, etc. The applicants  have paid an EMD of 10 percent of the total upset price of the plot.

Except for the Nandagiri Hills plot, the upset price for the remaining 41 plots ranges from Rs 9,000 to Rs 25, 000 per sq.yd.