Hyderabad is positioned as one of the most emerging residential real estate markets in India. The improvement in infrastructure like Metro Rail, Road Networks, Foot Over, Flyover, etc. has played a significant role in strengthening the Hyderabad real estate market.
Latest Announcement of HMDA Plots Auction 2019
In April 2019, HMDA held an auction for 67 plots in the Uppal Bhagat phase-I which got Rs 670 crores. The Hyderabad Metropolitan Development Authority (HMDA) is gearing up for another e-auction of plots in Uppal Bhagat layout and other areas. The HMDA body got permission from the government to pool up to its finances through the sale of plots. The HMDA has planned to conduct an e-auction of 124 open plots in the Uppal Bhagat area near Nagole for commercial and residential use while 104 plots are in phase-I are for residential purposes. The government is expecting to get Rs 1500 crores through the proposed auctions.
HMDA E-Auction Plots for Sale in Uppal Bhagat Area
The HMDA announced the auctions are to be held through online bidding, and the process began from Friday onwards. The people who are interested in participating and knowing more about e-auction can attend a pre-bid meeting, which would be held on December 6. The last date for registration to participate in the HMDA auction is December 11. The auctions will be held on 14th and 16th Dec 2019. The HMDA has ventured a 1.59 lakhs sq.yds acres layout at Uppal Bhagat plots auction under the land pooling scheme.
The layout is developed in the minimum plot area is 200 sq.yds. and the maximum is 2,000 sq yds. And rest of the land is used for residential purposes and high-rise buildings, and IT parks. As an added advantage, out Of 733 acres, 104 acres were allotted to HMRL (Hyderabad Metro Rail Limited) for Metro Rail depot construction near Nagole. One can get excellent investment returns by owning a plot in the Uppal area as it is an upcoming residential area. With developing infrastructure, many new residential high-rises will continue to be built with modern facilities. As a result, its price of a plot in this area will continue to appreciate.
Uppal Bhagat Plots Auction Earned Rs 155 crore [Updated on Dec 16, 2019]
The Hyderabad Metropolitan Development Authority (HMDA) in Uppal Bhagat layout received an overwhelming response to the open plot second phase auction. In April, this year the first phase took place and received around Rs 670 crore. For the second phase, the HMDA has put on 124 plots for auction.
Three days of e-auctions will take place from December 14 to 16, 2019. The authorities had announced just on the first day of the auction. They received an overall Rs 155 crore. They added, “due to Vaastu constraints, two plots didn’t receive any response where four plots received only single bids”. Although Rs 77000 per sq yard was the highest quoted offer for a residential plot of a 166 sq yard, at Rs 30,200 per sq yard, the lowest quote was reported. The average cost is estimated to be approximately Rs 46,000 per sq yard.
Investing in the HMDA plots Auction at the Uppal area is one of the best options for individuals looking to gain high returns with minimal risk. Uppal area is one of the excellent residential locations with developed infrastructure and lush green surroundings. It is a perfect place for a comfortable stay, and the area is well connected to all civic and social facilities like metro stations, hospitals, banks, shopping malls, markets, and entertainment hubs.
Are you interested in buying a plot in Uppal, Hyderabad? Visit PropertyAdviser.in and know detailed information about plots for sale in Hyderabad. Choose us a guide to find the best plot to build your dream home for happy living.
By: Shailaja K