Hyderabad real estate is growing rapidly. Considering the increasing popularity, the Hyderabad Metropolitan Development Authority is about to launch an HMDA auction for open plots at Uppal Bhagat village, Hyderabad.

Highlights of the HMDA Auction

• The HMDA has ventured a 500 acres layout at Uppal Bhagat under the land pooling scheme.

• The layout is developed into a 413 acres land which is allocated for the residential purpose and a 70 acres land for multipurpose high-rise buildings.

• The government has fixed the upset price for the plots at Rs.28,000/- per sq.yd

• Acknowledging the beauty of Mother Nature, the Musi Riverfront in the layout is developed in a picturesque way.

• As an added advantage, inside the layout on the bank of the Musi river, Shilparamam market is most likely to be built.

Key Specifications of the HMDA Plots Auction 2019

All modern-age facilities are provided for the plots at Uppal Bhagat like,

• A centralised sewage treatment plant

• An external underground sewerage system

• Plantation on either side of the roads

• In case of abundant  rains, stormwater disposal system

• The underground electrical distribution network for hassle-free power supply

HMDA E-Auction: Location Advantages

• Good Connectivity: Uppal is an excellent residential location with lush greenery. It is a perfect place for anyone who wants to reside in a quality lifestyle.

• Affordable: As it is an upcoming residential location, at present it offers affordable prices when compared to many localities in Hyderabad.

• Facilities: The area is well connected to all kinds of facilities like Uppal metro stations, hospitals, banks, markets, etc.

Interested in residing in Uppal? Go through our online portal, to know more about the apartments for sale in Uppal and find your dream home today!

Important Points to Consider Before HMDA E-Auction

Information regarding the highest bidder will be revealed after the completion of the auction. The highest/successful bidder is subjected to send his/her confirmation within one week after the intimation. A pre-bidding meeting is going to conduct on March 25th, 2019 at Tarnaka to explain the terms and conditions.

• Date of Notification: March 9th, 2019

• Last Date For Registration: April 3rd, 2019 till 5 PM

• Registration fee: Rs. 1000/-+ GST18%

• Date and Time of e-Auction: 07.04.2019 & 08.04.2019 from 9:00 AM to 12.00 Noon and 2.00 PM to 5.00 PM

• Minimum Bid Increment: Rs.100/-

Earnest Money Deposit

Earnest Money Deposit(EMD) must be deposit by the bidder before April 3rd, 2019 before 5:00 PM. The EMD for various plot sizes are as follows,

Final Payment

The successful bidder must pay the total amount within 60 days. In case if they are unable to spend or want to pay in instalment basis. Following interest rates will be levied,

• Up to 90 days excluding the first 60 days, simple interest of 10% is going to be imposed

• A 12% interest is charged for 180 days excluding the initial 60 days

• 15% interested is levied for one year  excluding the starting 60 days

• To get loan approval from banks, HMDA will issue No Objection Certificate(NOC)

Registration Process for HMDA Auction

The buyer needs to register by paying Rs.1180/- (Rs. 1000/- + GST 18%) and fill an online form in by visiting www.mstcecommerce.com. After successfully uploading the form, an automated email will generate to submit Aadhar Card, or any government-issued proofs, PAN card, soft copy of ITR, and cancelled bank cheques.

Only permitted bidders will be able to participate in the auction. The bid value will be the basic per Sq.yard excluding all applicable levies, duties, etc. Bidders need to quote in INR per Sq. Yard.

Want to find all the plots for sale in Hyderabad at affordable prices? Being a pioneer in the real estate data directory creation, the propertyadviser team has helped a lot of home buyers to find their perfect home as per their necessities.

By Govi