Buoyed by the success of earlier auctions of plots in the Uppal Bhagayath Layout, the Hyderabad Metropolitan Development Authority (HMDA) is gearing up for the e-auction of 44 developed plots spread over 1,35,401 square yards in the same layout.
The auction will be on December 2 and 3, with the e-auctioning to be held under the aegis of the Union government enterprise, MSTC Limited.
The minimum upset price will be Rs 35,000 per square yard and the minimum bid increment Rs 1,000 square yard or multiples thereof. For the plots up to 300 square yards, the earnest money deposit (EMD) or pre-bid amount is Rs 3 lakh per plot and for plots up to 2001 square yards and above, the EMD is Rs 15 lakh.
The plots that will go under the hammer are of different sizes, starting from 150 square yards to 15,149 square yards. The layout is proposed for multi-purpose usage and a road grid of 18m, 24m and 30m with dual carriageway is provided, facilitating high-rise buildings. The plots that are being auctioned are in the close proximity of Nagole Metro Station, abutting Uppal and the LB Nagar Inner Ring Road. In addition to good transport facilities, the Shilparamam market on the banks of the Musi River is situated within the layout. HMDA in its brochure mentioned that riverfront with landscape designed aesthetically was developed in the layout along the bank of the Musi River.