HMDA obtains Rs 333 crore from land auctions in Uppal Bhagat

HMDA obtains Rs 333 crore from land auctions in Uppal Bhagat 

Uppal Bhagat lands had their e-auction which fetched them Rs 141.61 crore, to begin with, and Rs 333 crore on the following day with 21 medium and big size plots amounting to Rs 474 crore revenue to the Hyderabad Metropolitan Development Authority for a single layout at Uppal Bhagat. The earlier auction fetched Rs 1000 crores to the HMDA. 

The enthusiastic officers stated that the highest bid was Rs 1.01 lakh per sq yard against the declined price of Rs 35000 per square yard. On the first day, the lowest bid was Rs 36000 per square yard. The next day the bid rose to Rs 53000 making the average bid of two days to Rs 55000 per sq yard. 

Happy with the response HMDA is soon planning to organize auctions in identified layouts in the western part of the city. 

The 21 plots, measuring  1,15,689 sq yards, ranged from 150 sq ya s  to 15149 sq yards consisting of residential plots, shopping cum entertainment, and multipurpose use. 

25% of the bid amount would be payable by the bidder within one week of getting the allotment letter and the balance amount is to be paid in phases.