(PropRover News Update: 20 Oct 2018) - Finally HMDA has scrapped the plan to auction plots. We don't know the exact reasons. Wondering whether it's related to fear TRS may lose election and the money earned will be managed by another Govt?!
(PropRover News Update: 20 Sep 2018) HMDA is doing what you could possibly expect from private developers! The Auction dates are being postponed to get more and more people to pay bid guarantee fee and join the auction pool. HMDA gains huge interest on public deposits and the number of bidders increases ensuring higher competition! Fair game??? As of now UPPAL BHAGAYATH Auction is set on 26–09–2018 & 27–09–2018 and for other places, on 28–09–2018
(PropRover News Update: 21 Aug 2018) HMDA will conduct e–auction for plots in the Uppal Bhagat Layout (Base Rate Rs.28,000/sqd) and few other places 9 a.m. onwards on September 8. While the Uppal plots will auctioned on that day, e–auction for 28 other plots will be held on September 9.
(PropRover News Update: 08 Aug 2018) The plan of the Uppal Bhagat Layout can be downloaded from here
A total of 95 plots will be auctioned of which 67 are in Uppal Bhagat. Interested citizens should first register by paying Rs.500 and GST extra for participating in the auction on or by September 6 and pay 10% fee as EMD and quote at least Rs.100 more than the base rate.
Those winning the bids after the e–auction will be informed immediately and 25% of price should be paid within a week. The rest of the amount can be paid with 10% interest in 90 days, 12% interest in 180 days and 15% interest within a year.
Plots for auction are at other HMDA layouts in:
Mylardevulapalli Madhubhan residential complex – 6 (Rs.15,000)
Neknampur residential complex – 2 (Rs.25,000)
Attapur residential complex – 1 (Rs.40,000)
Nallagandla – 1 (Rs.20,000)
Tellapur – 1 (Rs.20,000)
Chanda Nagar – 1 (Rs.30,000)
Vanasthalipuram – 1 (Rs.18,000)
(PropRover News: 06 Aug 2018) The real estate scenario in Hyderabad has turned hot over the last few quarters. The previous HMDA auction in April 2018 saw frantic bidding which drove plot rates even in outer city area to above Rs.50,000/sqd. This was a clear indication of real estate boom. Banking on the positive sentiment seen in the April auction, HMDA is coming up with a series of mega auctions.
In the first phase, HMDA would be releasing 96 plots in Uppal, including 67 brand new plots in recently developed Uppal Bhagat layout. This layout was developed by HMDA under a land pooling scheme, where farmers were allotted developed plots in lieu of the undeveloped land given to HMDA by them. This auction is expected to raise around Rs.400 to Rs.500 Crore.
In phase 2, HMDA will auction 200 acres of land in Kokapet beside Gachibowli Financial District. The land is elevated and hilly but has perfect view of Financial District and ORR on one side and the Gandipet lake on the other side. This land was embroiled in many years of legal war between the state government and claimants. Eventually in 2017 October, the Supreme Court ruled in favor of the state government.
In a much publicized land auction in Kokapet in the year 2006 (Golden mile auction), the winners were left high and dry when the Govt. failed to handover possession of land after receiving money due to defective Title! Similarly, the recent plot auction (April 2018) also saw serious Title dispute with Mayurinagar Welfare Association managing to stall auction of 76 plots claiming ownership. The matter is now in the High Court. Unfortunately, HMDA has created a bad aura around itself, due to its failure in ensuring that the auctioned plots are absolutely litigation free.
HMDA expects Kokapet auction to raise a whopping Rs.3000 to Rs.4000 crore at the rate of Rs.15 to Rs.20 crore per acre of land. However, considering the bad experience of the successful bidders in the Golden Mile auction, HMDA could be in store for a bad surprise!
The auctions will be carried out by an e–auction process. The base rate of plots in Uppal Bhagat layout is likely to be red hot at around Rs.25,000 per sqd pushing the middle class squarely out of HMDA plot ownership. This would indeed drive vast majority of people into buying unauthorized plots since they have no other options.
The Govt. notification regarding the auction of plots in Uppal Bhagat Layout is expected soon..
06 Aug 2018