Curation Team
HYDERABAD: Reviving its land auctions after a two-year pause, the Hyderabad Metropolitan Development Authority (HMDA) has announced the sale of 93 open plots spread across various parts of the city. The three-day e-auction will be held on Sept 17, 18 and 19, the authority said on Wednesday.
Of the total, 70 plots are located in the Bachupally HMDA layout. The remaining include 12 plots in Turkayamjal, four each in Kokapet, Poppalguda, Chandanagar, and Bairagiguda (Rangareddy district), and seven plots in Gandi Maisamma, Suraram, Medipally, and Bachupally village (Medchal Malkajgiri district).
Officials said the highest upset price is fixed at ₹1.75 lakh per square yard for a large parcel of about 8,591 square yards, while another plot of 1,630 square yards in Poppalguda carries an upset price of ₹1.20 lakh per square yard. A 484 square yard plot in Chandanagar is pegged at ₹1.05 lakh per square yard. The rest of the plots range between ₹35,000 and ₹70,000 per square yard.
Successful bidders will be required to pay 25% of the bid amount within one week, and the balance 75% within two months, officials clarified.
The HMDA currently holds 2,414 plots in 18 layouts, including ongoing ones, and intends to ‘test the waters’ of the real estate market before launching major auctions, particularly in Neopolis Phase 2, Kokapet. It also has 41 plots in Uppal Bhagat, 327 in Inmulnarva (Rangareddy district), and over 2,000 plots in other locations that are likely to be put up for sale later.
Sources said HMDA last conducted auctions in Aug 2023 at Neopolis, Kokapet, which saw record demand. Some parcels there remain unsold and will be offered in due course.
Officials added that the fresh round of auctions is part of the authority’s resource mobilisation drive, with proceeds expected to fund key projects. These include two elevated corridors — from Paradise to Shamirpet and from Paradise to Dairy Farm Road (Medchal) — as well as a greenfield radial road in Future City.
