26 Plots Scheduled for Auction on 18th August—Hyderabad Development Body

26 Plots Scheduled for Auction on 18th August Hyderabad Development Body

Hyderabad Metropolitan Development Authority (HMDA) will set up an auction in Hyderabad for various open lands on 18th August.

HMDA will conduct an auction of land for stray bits (the unsold plots because of size, Vastu and many other reasons) on 18th August. To participate in this auction, individuals, trusts, registered societies, NBFCs, companies, groups, and others must register online beforehand.

The locations of the open lands that will go for auction are Manchirevul, Peeramcheruvu, Kokapet, Nallagandla, Chandanagar, Budvel, Bachupally, Chengicherla, Suraram, Ameenpur, Velmala, Patancheru and, Bowrampet.

According to the officials, the minimum bidding price rate for the plot is approximately Rs. 65,000 per sq. yard in Nallagandla. For the plots located in Budvel, Chandanagar and Peeramcheruvu near Gandipet and Manchirevula, the minimum approximate price rate is Rs. 50,000. However, the bidding price in Nadigama Rameshwaram Banda in Patancheru is Rs. 12,000 per sq. yard and Rs. 40,000 per sq. yard in Ameenpur. Furthermore, in the northern part of Suraram, the bid is fixed at Rs. 25,000 per sq. yard.

As per the sources, the individuals are most likely to bid for smaller plots, and developers will opt for land parcels above one acre.