In a way, auctions taken up by government agencies such as the A.P. Housing Board and Hyderabad Metropolitan Development Authority (HMDA) ends up acting as pointers to the mood of property seekers. Also, they sort of reflect as well as establish the price trends of properties in different areas of the city.

After a considerable lapse of time and following much consideration, the HMDA has finally come up with a round of auctions that has placed 42 plots in the city and suburbs under the hammer.

Woefully short of funds to meet the demands of its different ongoing projects, the HMDA has pinned its hopes at being able to raise around Rs.120 crore from the auction proceedings. The plots that are on offer are in different size range and some priced lower than the earlier rounds of auction.

Prospective property buyers have been provided with an option of making their bids either by submission of sealed tenders or go for online bidding and the HMDA assures that the e-bidding platform has been subjected to a thorough security audit. The last date for participating in the auction happens to be August 7.

The plots that have gone under hammer include those at locations such as Ramachandrapuram, Nallangandla, Tellapur and Gopanpally that are in the proximity of the happening IT belt while the others are at Miyapur and Asifnagar. A lone but big plot measuring 4.695 acres at Nandagiri Hills is also on offer.

The Nandagiri Hills plot when placed for auction earlier with an upset tag of Rs.23 crore per acre failed to get any buyer and now it comes at a reduced upset pricing of Rs.18 crore per acre. Lot of debate had preceded this process as ideas were floated on splitting this plot into smaller pieces to make it more affordable and be able to make it attractive. However, according to HMDA officials, the issue was given due consideration but was not found feasible by its engineering team. The details have been provided on the website ‘www.hmda.gov.in’ and also included is a section FAQ apart from a dedicated email id which can be used to seek specific inputs. Those participating in the bidding process have to make a deposit of 10 per cent of the total value of the plot as EMD.

To reassure the prospective buyers, the HMDA says that all the plots are clean and have been verified thoroughly for all relevant details by officials of engineering, town planning and revenue.

Keywords: HMDAreal estate