Nets Rs. 17.70 cr. from plots' auction at Kukatpally
The only commercial plot on the main road, on the western side of Sulekha Complex, with an upset price of Rs. 30,000 per sq.yard, was bid for Rs. 54,800 per sq.yardWhile the upset price for residential plots was fixed at Rs. 20,000, the highest bid amount was Rs. 31,200 and the lowest Rs. 20,100
HYDERABAD: The auction of vacant plots in various phases of Kukatpally Housing Board Colony on Friday turned out to be a money-spinner for the Andhra Pradesh Housing Board.
Though only 28 bidders turned out at the office of the Executive Engineer (Housing), Western Division, AP Housing Board, Kukatpally besides 10 sealed tenders that were submitted till Thursday evening, it did not stop bidders from increasing the stakes.
The only 1,544.72-sq.yard commercial plot on the main road, on the western side of Sulekha Complex with an upset price of Rs. 30,000 per sq.yard, was bid for Rs. 54,800 per sq.yard. The plot bid by Prajay Engineers Syndicate yielded APHB over Rs. 8.46 crores. The APHB on the whole netted Rs. 17.70 crores from the auctions.
Stay on HIG plot
Of 12 residential plots, 10 plots -- seven MIG-B plots in the fifth phase and three MIG-II plots in ninth phase -- were auctioned. While their upset price was fixed at Rs. 20,000, the highest bid amount was Rs. 31,200 and the lowest Rs. 20,100. Two plots went for sealed tender bidders. A court stay prevented auction of one HIG plot while there were no takers for a 194-sq.yard MIG-II plot. The EMD for the commercial plot was fixed at Rs. 5 lakhs and other plots Rs. 2 lakhs. The successful bidders would have to deposit one-fourth of the total bid amount, including the EMD, by Saturday evening and rest of the amount within three months and with an interest of 10 per cent in the next three months.
One of the successful bidders for a residential plot said it was for her NRI daughter as she was looking for a safe investment.