The Hyderabad Metropolitan Development Authority (HMDA) has launched the process for e-tendering and e-auction of its stray plots in various localities. The e-auction is scheduled to be held on three consecutive days starting from April 10.
Brochure for tenders and auction of the plots was released by Minister for Municipal Administration and Urban Development (MAUD) K.T. Rama Rao on Monday in the presence of principal secretary Arvind Kumar and HMDA Commissioner T.Chiranjeevulu.
A total of 229 plots from various layouts with 1.16 lakh square yards of total area will be auctioned during the three days. Of them, 88 plots came to HMDA through gift deeds from private developers, and 141 are leftover plots from earlier HMDA layouts.
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They are located in areas such as Pocharam, Dulapally, Mankhal, Mamidipalli, Bhuvanagiri, Bachupalli, Jalpally, Shankarpally, Ghatkesar, Ameenpur, Gopanpally, Nallagandla, Chandanagar, Saroornagar, Neknampur, Nandagiri Hills, Attapur, Shaikhpet, Vanashtalipuram, Mailardevpally, Tellapur and Madhapur among others.
The plots will be displayed on Google maps along with coordinates, a press note informed.
Those not willing to participate in the auction may file e-tender, quoting the price for the plot desired. The e-tender document may be obtained directly, or from the HMDA website up to April 7.
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Applicants to e-tender or e-auction should pay ₹10,000 towards registration, and the earnest money deposit (EMD) prescribed for the plot concerned. During the e-auction, participants are required to quote a price at least ₹100 more than the optional value quoted by HMDA online. The optional value is 1.5 to 3.5 times more than the registration value, which is still lower than the market rate, Mr. Chiranjeevulu informed at a press conference.
In cases of response from single bidder, HMDA will cancel the auction and call for bids afresh.
The e-auction or e-tender will be conducted from 10.30 a.m. to 12.30 p.m. and again from 2 p.m. to 5 p.m. on all three days, with 36 plots going under hammer in each session. The auction process will be held by the central public section unit M.S.T.C Limited, without any interference by HMDA.
Those winning the bid will have to pay 25% of the price in a week, and the remaining after EMD deduction in the next 60 days.
HMDA is also offering the option of instalments extending after 60 days, which may be paid over a year along with certain rate of interest. HMDA will issue the required affidavit to obtain bank loan.
HMDA is aiming to garner ₹250-300 crore through the auction, Mr. Chiranjeevulu said, adding that the authority hopes to earn ₹1000 crore over the next six months through various auctions, including that of Uppal Bagayat lands.