An assessment of properties that could be notified for auction has been completed by the urban planning body, writes T. LALITH SINGH
The Hyderabad Metropolitan Development Authority (HMDA) has around 30,000 square yards spread across different layouts and the same could go under the hammer next month.
An assessment of its properties that could be notified for auction has been completed by the urban planning body in different parts of the city and outskirts. A cash-strapped HMDA has scouted to locate extra spaces available in its existing layouts and concluded that it has enough sites that could be put for auction along with left over plots from earlier auctions.
The idea to survey for extra spaces available was mooted by the Metropolitan Commissioner and a team of officials from different wings studied all the layouts. In several instances, the HMDA had realised that there were more spaces left open than stipulated for amenities and other purposes apart from those kept for future development.
“The total of such spaces worked out to 30,000 square yards and this include bits of varying sizes from 300 square yards in some layouts to an acre in others,” an official said. Covering all HMDA layouts located in different locations from Tellapur, Miyapur to Saroornagar, the exercise added new possible sites to the existing plots that failed to fetch a buyer in earlier rounds of auction. Given the present real estate trends in and around city, the minimum pricing for auctions could be around Rs.10,000 per square yard, officials said.
The newly identified smaller plots could be put for auction for residential purposes and HMDA is considering possibilities of auctioning bigger ones such as those measuring around an acre for commercial development. A decision is to be taken in June first week after the HMDA Commissioner, Neerabh Prasad Kumar returns from his foreign tour.
In the last round of auctions held in July 2012, a total of 42 plots were on offer and 36 of them were sold. More than 400 bidders participated and a good demand was observed for plots in new and emerging areas such as Nallagandla and Gopanpally. Last auction also saw the 4.695 acre site at Nandagiri Hills which went to auction with an upset price of Rs.18 crores per acre, fetching Rs.84.74 crore to the HMDA.