HYDERABAD: After a two-year hiatus, the Hyderabad Metropolitan Development Authority (HMDA) is resuming its land auctions, releasing 93 open plots across different city areas. The three-day e-auction is scheduled for September 17, 18, and 19, as announced by the authority on Wednesday.
Among the total plots, 70 are situated in the Bachupally HMDA layout, with additional plots found in Turkayamjal (12), Kokapet (4), Poppalguda (4), Chandanagar (4), Bairagiguda (4), and Medchal Malkajgiri (7) encompassing Gandi Maisamma, Suraram, and Medipally.
Officials disclosed that the highest upset price is set at ₹1.75 lakh per square yard for a large plot measuring 8,591 square yards. Another plot of 1,630 square yards in Poppalguda has an upset price of ₹1.20 lakh per square yard, while a 484 square yard plot in Chandanagar is tagged at ₹1.05 lakh per square yard. Other plots vary between ₹35,000 and ₹70,000 per square yard.
Successful bidders must pay 25% of the bid amount within one week, with the remaining 75% payable within two months, according to officials.
The HMDA currently manages 2,414 plots across 18 layouts, including ongoing projects. They plan to evaluate the real estate market before proceeding with significant auctions, particularly for Neopolis Phase 2 in Kokapet. Additionally, there are 41 plots in Uppal Bhagat, 327 in Inmulnarva (Rangareddy district), and over 2,000 plots elsewhere that may be auctioned later.
Sources report that the last auction held in August 2023 at Neopolis, Kokapet, attracted considerable interest. Some parcels remain unsold and will be offered at a later date.
This upcoming round of auctions is a strategic effort by the HMDA to generate resources, with proceeds expected to finance crucial projects, including two elevated corridors—one from Paradise to Shamirpet and another from Paradise to Dairy Farm Road (Medchal)—as well as a new radial road in Future City.
