VUDA nets Rs.11.17 crore for 26 plots

On day two of the three-day auction of residential plots in Cyber Valley, the VUDA was able to get a good response by netting Rs.11.17 crore for 26 plots on Tuesday.

VUDA, on an average, received bids at the rate of Rs.15,000 on Monday by realising Rs.15.73 crore by auctioning 47 plots of different sizes, taking its total revenue during the two days to Rs.26.9 crore. Auction will conclude on Wednesday.

The second day's auction of Cyber Valley plots made both the applicants and VUDA satisfactory with its slow and steady run. A VUDA spokesman said that all the 26 plots listed for auction were disposed of.

VUDA officials said 18 plots were withdrawn from the present round of auction due to technical reasons. Originally, 44 plots were slated for auction on Tuesday. Since these 18 plots are abutting 80-ft road in the layout and require a minimum of 340 square yards area for obtaining permission for construction and the present sizes were smaller, the plots were kept aside for changing their sizes.

Highest price

The highest price in the second day auction went up to Rs.18,200 against the upset price of Rs.12,000 per square yard for plot No. 103 admeasuring 283.34 square yards. Lowest bid was received at Rs.12,100 for plot No. 116. The average price per square yard was Rs. 15,541 – slightly higher than the day one's responses. On day two, plots facing east and north on road corners received bids between Rs.16,000 and Rs. 18,000 and the remaining up to 16,000.

About 51 plots will be put for auction on final day. Plots with sizes of 167, 267, 288, 311, and 460 square yards will be available for bidding.

The Indian Overseas Bank, VUDA branch, and State Bank of Hyderabad, GVMC branch, have arranged counters for extending banking services to the applicants at the venue. Sale and receipt of applications will continue till the completion of the auction.

VUDA Secretary M.S. Bhagavan acted as the auction officer and Estate Officer A. Jagadeesh, Chief Engineer I. Viswanatha Rao, Chief Urban Planner K. Ananda Babu, Chief Accounts Officer D. Vijaya Bharathi, Divisional Forest Officer B.V.A. Krishna Murthy, and Media Advisor B. Prabhakara Reddy attended.

  • 51 plots will be put for auction at Cyber Valley on third day

  • Sale of forms and receipt of applications till the end