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The Hyderabad Metropolitan Development Authority (HMDA) is set to auction 93 prime plots across Hyderabad from September 17 to 19. The plots are located in areas including Bachupally, Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, and Medipally. The upset prices range from INR 35,000 to INR 1.75 lakh per square yard. The proceeds from the auction will fund key infrastructure projects, including two elevated corridors and a greenfield radial road in Future City.
The Hyderabad Metropolitan Development Authority (HMDA) is set to auction 93 prime plots across various locations in Hyderabad from September 17 to 19. This marks the authority's first land auction in two years, aiming to rejuvenate the city's real estate sector and generate funds for essential infrastructure projects. Advertisement
The plots are situated in several key areas, including 70 in the Bachupally HMDA layout, 12 in Turkayamjal, and others in Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, and Medipally. The upset prices for these plots vary, with the highest set at INR 1.75 lakh per square yard for a large parcel of approximately 8,591 square yards. Other notable plots include a 1,630 square yard plot in Poppalguda priced at INR 1.20 lakh per square yard and a 484 square yard plot in Chandanagar at INR 1.05 lakh per square yard. The remaining plots have upset prices ranging from INR 35,000 to INR 70,000 per square yard
To participate in the auction, successful bidders will be required to pay 25% of the bid amount within one week, with the remaining 75% due within two months. This structured payment plan is designed to facilitate smoother transactions and encourage wider participation.
The proceeds from this auction are intended to fund significant infrastructure projects aimed at enhancing the city's connectivity and urban development. These projects include two elevated corridors: one from Paradise to Shamirpet and another from Paradise to Dairy Farm Road in Medchal. Additionally, a greenfield radial road in Future City is also part of the development plan.
This move by the HMDA reflects a strategic approach to urban planning and development, focusing on leveraging land resources to finance essential infrastructure. The authority's previous auction in August 2023 at Neopolis, Kokapet, witnessed record demand, indicating a strong market interest.
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