Hyderabad, February 25: With just two days left for the proposed sale of some 100 plots through e-bidding, the Hyderabad Metropolitan Development Authority (HMDA) is in a quandary as response from prospective bidders has not been very encouraging.
Initially, HMDA authorities were expecting at least 800 to 1,000 bidders but only some 225 persons have submitted their bids online till February 24. HMDA officials admitted that the response to the proposed sale of land and plots has been poor. They said even if they receive the minimum price fixed from the buyers, it would go some way in filling the empty coffers.
HMDA had proposed to go for sale of open land and plots due to severe financial difficulty.
Due to lack of funds, certain ongoing projects undertaken by HMDA had hit a roadblock.
HMDA officials revealed that the present estimated deficit is more than `1,000 crore.
The HMDA has to meet financial obligations for ongoing projects like Outer Ring Road (ORR), radial roads, construction of three intermediate ramps along the PVNR Elevated Expressway, pending flyovers at Kukatpally and road over bridges at Sanjeevaiah park and Necklace road.
–Agencies