35 prime West Hyderabad plots to go under the hammer 

The success of the mega e-auction of over a dozen prime plots in Kokapet and Khanamet in Hyderabad last month has prompted the State government to hold another round. On September 27 and 28, 35 prime plots which are spread over a total area of 117.35 acres in Khanamet and Puppalaguda will be put up for e-auction. By using electronic auctions, the cash-strapped state is hoping to raise 4,000 - 4,500 million rupees (roughly $450 million). The minimum upset price, which has yet to be determined, is expected to be in excess of Rs 25 crore per acre, which is a staggering amount. 

In the plots developed by the Telangana State Industrial Infrastructure Corporation (TSIIC), financial institutions, developers, corporations, and investors will have access to modern amenities. Large internal roads will connect the plots which range in size from 0.74 to 6.62 acres. Khanamet (22.79 acres) will sell nine plots and Puppalaguda will sell 26 (95.56 acres). 

In West Hyderabad, close to the Outer Ring Road (ORR) and the Central Business District, these plots are located. With their proximity to commercial centers, recreational areas, good transportation, hotels, hospitals, and schools, official sources say that the plots are likely to be snapped up in a matter of days. 

MSTC Limited, a government-owned e-commerce enterprise, will conduct the e-auction in collaboration with the TSIIC. Prospective buyers can view the properties from September 1 to September 24. The auction of 13 prime plots in Kokapet (eight plots, 49.92 acres) and Khanamet (five plots, 15.01 acres) last month proved to be a jackpot for the government, bringing in more than Rs 2,000 crore and Rs 729.41 crore, respectively. 

On August 30, a notification for the e-auction of the 35 prime plots will be issued. The deadline for registration and EMI payments is September 25 at 5 p.m. A pre-bidding session will be held on September 9. The e-auction in Khanamet will take place on September 27, and the e-auction in Puppalaguda will take place on September 28. 

The auction decision comes two months after the State Cabinet directed the departments involved to take immediate action on the sale of vacant government lands.