Hyderabad, March 01: The grand plans of Hyderabad Metropolitan Development Authority (HMDA) to raise around Rs.200 crore through auction of land and plots has not materialised, with the sale only fetching Rs.23.37 crore.
Out of 97 plots put up for auction through e-bidding, only 65 bidders came forward to purchase the plots.
But the major jolt for HMDA was no bidder came forward to bid for the Nandagiri hills open land. The HMDA was expecting to raise around Rs.100 crore from sale of the land measuring about 4.8 acres, but failed to find any willing buyer.
Except for Gopanapally plots, all 17 plots fetched double the fixed upset price.
For the remaining plots, bidders bid 20 to 30 percent extra than the fixed upset price. In the previous auction held in July 2010, 117 plots out of 229 were sold, fetching HMDA about Rs.67.5 crore. While the upset price for Gopannapally plot was Rs.11,000 per sq yard, the highest bidder quoted Rs.22,126 per sq yard. However, there was no response for Asifnagar plots while for Mushk Mahal, Tellapur, the response was 50 percent. “We are reasonably happy with the auction as we received more than we expected,” HMDA metropolitan commissioner, Rajeshwar Tiwari said.
-Agencies