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Business EconomyPosted at: Jun 15 2021 8:48PM


T-govt to auction prime plots admeasuring over 49.92 acre to tide over Covid-induced financial crisis

Hyderabad, Jun 15 (UNI) On behalf of the State government, the Hyderabad Metropolitan Development Authority (HMDA) is all set for mega e-auctioning of 8 prime plots located in Kokapet and at Golden Mile Layout in Hyderabad.
Notification for auctioning of 7 plots admeasuring over an area of approx. 48.27 acres located at Kokapet and a single plot measuring 1.65 acres at Golden Mile Layout, issued on Tuesday.
A pre-bid meeting will be conducted on June 25 and the last date for submitting bids is July 13 while the auctioning of plots will be held on July 15, according the notification.
Minimum Upset Price INR 25 crore per acre for all plots (bidders can increase bid amount by a minimum of INR 20 lakhs or it’s multiples thereof).
Current Offering E-auction of aforementioned land parcels in ‘ Neopolis and Golden Mile layouts.
The amount that will be realized from e-auction will be handed over to the state and this move to auction the government lands comes after the state cabinet directed concerned departments to take immediate action on the sale of vacant government lands to mop up revenues to fund welfare schemes and development programmes..
The Telangana state government had earlier also formed four committees to sell off government lands under the control of various departments to raise funds and tide over the Covid-induced financial crisis since March last year.
The project highlights include 100 per cent clear assured title of the government land, absolute ownership of the land, time-bound fast-track approvals in single window, unlimited FSI, multiple use zone for office space, IT, residential, institutional, commercial and mixed use
Auctioning of prime plots to prospective investors via an e-auction process through MSTC portal on July 15, 2021 while CBRE South Asia Pvt Ltd. has been appointed by the HMDA as Marketing Consultants for undertaking extensive reach out to interested parties --Developers, Investors, HNIs, Corporates, and Funds.
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Tags: #T-govt to auction prime plots admeasuring over 49.92 acre to tide over Covid-induced financial crisis
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