For the first phase of land auctions in Kokapet and Khanamet in Greater Hyderabad, the state government has fixed Rs 25 crore per acre as an upset price (minimum price to quote). 

While Rs 1,625 crore will be received from the disruptive price for the total of 65 acres, the government hopes to net Rs 3,000 crore in e-auctions on July 15. 

Telangana Sets Auction Prices, Bidding Norms 

A notification was issued for the sale of 13 land parcels in the projects Neopolis and Golden Mile, Kokapet and Khanamet, by the Hyderabad Metropolitan Development Authority (HMDA) and the Telangana State Industrial Infrastructure Corporation (TSIIC).  

The government of the State will support the e-auctioning of MSTC Limited, a GoI agency.  

The government stated that prospective bidders must quote Rs 20 lakh minimum over the smooth price. This would help discourage unwanted bidders, officials said. The EMD is also fixed for Rs 5 Crore, while the registration fee for TSIIC bid participants and for HMDA bid participants are Rs 23,600 and Rs 11,800, respectively. 

Because the bid is huge, the government has decided that successful bidders will receive installments. The notification stated that bidders must pay 33% of the total bidding amount as the first installment within seven days, an additional 33% of the bidding, a second part within sixty days, and a final balance before 25 October. "If bidders fail to pay their bid installments, the bid amount will be forfeited with their EMD and installments and the package auction will take place during the next phase," stated a senior HMDA official.

By: Shailaja K