In a first, the Hyderabad Metropolitan Development Authority (HMDA), which has been focusing on large plots and infrastructure developers in land auctions in western parts of the city, especially Kokapet, has shifted gears and is now eyeing middle and upper middle class sections.
HMDA, which developed a layout with 1,320 plots in 165 acres in Mokila village near Shankarpally, will conduct auction of 50 plots in phase I on August 7.
In Mokila, HMDA has fixed Rs 25,000 per square yard as upset price and the prospective bidders can bid higher than the price beginning with Rs 500. Official sources said private developers have been selling the plots at Rs 30,000 per sq yard in Mokila and surrounding areas.
“We are expecting a very good response as the auctions are primarily meant for medium and upper medium working class people and employees to own their houses,” special chief secretary (municipal administration) Arvind Kumar told STOI on Saturday.
As the HMDA predicted, there was good response for the pre-bid meeting held for Mokila land auctions on Friday with about 200 people attended it.
“The HMDA will develop all infrastructure facilities such as roads with footpaths, central medians, underground sewage system, water supply distribution network with overhead tanks, stormwater drainage system, electrical power supply and streetlighting, etc. The works will be completed within 18 months,” HMDA officials said.
The government is expecting huge response in the bids also as the layout is adjacent to 100 ft wide Shankarpally road and connecting Neopolis at Kokapet, Wipro crossroads and Financial District in 20 minutes.
The radial road along the ORR connects the project in 10 minutes. It is also close to several educational institutions, including engineering colleges, and even close to Gandipet.
