The Hyderabad Metropolitan Development Authority (HMDA) has recently released a notification for the e-auction of Kokapet and Khanamet land parcels. The auction is effectively one of the largest and most ambitious land auction projects to date.
E-Auction of HMDA and TSIIC Land Parcels
The high-profile auction is expected to produce a revenue of around Rs 2,500 crore. HMDA and the Telangana State Industrial Infrastructure Corporation (TSIIC) will auction the plots with a minimum tender price fixed at Rs 25 crore per acre.
On behalf of the state government, 13 terrain plots spread over 64.93 acres will be auctioned. Among them, in Kokapet, there are eight parcels with an area of 49.92 acres, while in Khanamet, there are five parcels with an area of up to 15.01 acres.
All the plots being auctioned are situated near the IT and Outer Ring Road (ORR) corridors. Officials said that the land e-auction will be conducted transparently. A positive response is expected because all land titles are 100% genuine, and the state government is the stakeholder in the land auction.
The District Collectorate has listed all the lands which have remained unused for many years. The move of the Government would boost the housing sector, as per real estate consultants.
By: Shailaja K