HMDA going to e-auction plots to strengthen the IT sector

HMDA going to e-auction plots to strengthen the IT sector

In a notification published on 31 August, the Telangana government will e-auction 35 plots which are spread in 117.35 acres of Khanamet and Puppalaguda at an advance cost of Rs 35- Rs 40 crore per acre. However, this auction is anticipated to procure a minimum of Rs 4,000 crore to the state government. 

These plots will be auctioned by the Hyderabad Metropolitan Development Authority (HMDA) and the Telangana State Industrial Infrastructure Corporation (TSIIC) and MSTC Ltd which is an e-commerce corporation running on behalf of the State government. 

The last date for registration and last date of payment of EMD or pre-bid amount for both the sites is September 25. Prospective buyers can visit the site from September 1 to September 24. 

As per the notification, 22.79 acres of land will be e-auctioned at Khanamet on September 27, and auction of  

94.56 acres of land at Puppalaguda will happen on September 28. As both the sites are located in the heart of the central business district (CBD). Hence, can be auctioned for numerous purposes from office space from residential to institutions to commercial and mixed purposes.