Tag: Hyderabad Metropolitan Development Authority

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Medipally Auction by Hyderabad Body Nets ₹120 Crore Amid Demand

HYDERABAD: The recent land auction by the Hyderabad Metropolitan Development Authority in the Medipally layout garnered a strong response, with the sale of 68 plots bringing in almost ₹120 crore on Wednesday. Bidding exceeded the reserve price of ₹45,000 per square yard, reaching as high as ₹80,000 per square yard. The average bid landed at ₹56,260, highlighting the increasing demand for HMDA-developed areas. As part of a phased auction process, further plots in Mokila, Chandanagar, Bairagiguda, Narsingi, and Bowrampet will be sold by June 30. However, the auction faced challenges, including a Telangana High Court order that temporarily halted the…

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Legal Disputes Shadow Telangana’s High-Value Land Auctions

Representative image HYDERABAD: Land auctions in Telangana are increasingly becoming battlegrounds in court, with disputes arising just before or after the sale of valuable plots. From record bids in Raidurg to extensive legal disputes in Kokapet, government agencies are grappling with legal obstacles that threaten their revenue-generating efforts. The Hyderabad Metropolitan Development Authority (HMDA) and the Telangana Industrial Infrastructure Corporation (TGIIC), responsible for managing these auctions, acknowledge that the challenges are intensifying. The recent Raidurg auction, which saw TGIIC achieve an unprecedented ₹237 crore per acre, faced an immediate setback when the State Bank of India petitioned the high court…

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Hyderabad: Banjara Hills ₹1,000 Crore Land Auction Dispute

Representative image HYDERABAD: A significant land auction organized by the Hyderabad Metropolitan Development Authority (HMDA) in Banjara Hills has sparked controversy, with two claimants asserting that part of the high-value government land slated for auction overlaps with their properties. The contention revolves around an 8.24-acre parcel in survey No. 102/1 of Hakeempet village, which HMDA intends to auction on June 19. This land is among the most sought-after in the city, with an estimated valuation of nearly Rs 1,000 crore. HMDA has set a base price of Rs 99 crore per acre, anticipating bids between Rs 130 crore to Rs…

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Telangana Raises ₹1,000 Crore from Neopolis Land Auction

Representative AI image HYDERABAD: The Telangana government continues to thrive in land sales, recording approximately Rs 1,000 crore on Wednesday through the third round of auctions conducted by the Hyderabad Metropolitan Development Authority (HMDA), surpassing the Rs 100 crore per acre milestone. In the recent auction, Yula Constructions LLP and Globus Infracon LLP secured a 4-acre plot (No. 19) with a winning bid of Rs 131 crore per acre, while Brigade Enterprises Limited acquired another 4.04-acre plot (No. 20) for Rs 118 crore per acre. Cumulatively, HMDA’s earnings from all three phases of the Kokapet auctions now total Rs 3,708…

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Telangana to Amend Stamp and Registration Act

HYDERABAD: Property buyers at bank and financial institution auctions may soon need to pay stamp duty based on transaction value as the Telangana government considers significant changes to the Indian Stamp Act and the Registration Act, aimed at reducing revenue losses, according to officials. The government also plans to grant authority to the inspector general and commissioner of the registration and stamps department to annul fraudulent registrations, including double registrations. Proposed amendments are expected to be presented to the Telangana cabinet shortly. Officials indicate that many auction property buyers evade stamp duty by presenting a ‘sale certificate’—a document banks submit…

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Hyderabad Land Auctions Fall Flat, Most Plots Remain Unsold

Representative AI Image HYDERABAD: The Telangana government is making efforts to increase revenue through land auctions, though the Hyderabad Metropolitan Development Authority (HMDA) encountered a tepid response for its recent offerings, with most plots remaining unsold. In Turkayamjal, only two bidders showed interest in the 12 available plots, indicating a lack of market enthusiasm. After a two-year pause, HMDA resumed land auctions, offering 93 open plots for bidding from September 17-19 across the city. This include 70 plots in Bachupally, 12 in Turkayamjal, and four each in Kokapet, Poppalguda, Chandanagar, and Bairagiguda in the Rangareddy district. An additional seven plots…