T. Lalith Singh
The fresh notification is likely to be issued on Monday
The application forms for e-tendering are expected to be put on the HMDA website
Earlier the authority’s move to auction 80 properties had failed
HYDERABAD: Against the backdrop of real estate sector showing signs of a fatigue after the boom for last few years, the Hyderabad Metropolitan Development Authority (HMDA) is all set to issue a notification on bulk auction of properties located on the city suburbs.
The auction, to be put forward as e-tender, is to take place within days of the Chief Minister Y.S. Rajasekhara Reddy conceding a point on the impact of global slowdown of economy and the same affecting the government’s plan of mobilising resources through auctions.
The fresh notification likely to be issued on Monday will cover properties located in different places such as Turkayamjal and Nallagandla and most come as spreads in acres.
This is in addition to the recent move by the authority to put for auction more than 80 properties that failed to get successful bidding in earlier initiatives.
The present e-tendering will have Turkayamjal (5,324 sq.yards), Srinagar (4,887.41 sq.yards), Jalapally (7,220 sq.yards), Mamidipally (5,552 sq.yards) and Chintapally (3,632 sq.yards).
These apart land going under the hammer include 6 acres at Gopanapally, 1 acre 30 guntas at Kondapur, 4 acres 18 guntas at Mallapur and 4 acres at Nallagandla.
The application forms for e-tendering are expected to be put on the HMDA website on Monday from when on the same can be downloaded for participation, the last date for submission is likely to be around December 1.
These auctions are expected to be watched keenly both by the investors, promoters and developers as the recent trends in property matters have been on a rather sluggish note.
Most developers openly acknowledge a drastic drop in enquiries for properties offered by them and even the auctions in recent times turned out to be a paler version of the enthusiastic bidding that was on witness till last year.