The HMDA did the auctions for open plots in Bahadurpally and Thorrur in HMDA limits and some plots in Narketpally in Nalgonda, Bhootpur in Mahbubnagar, Kamareddy, Gadwal in Jogulamba Gadwal district, Mavala in Adilabad and Yalal in Vikarabad district.
The open plots in upmarket areas saw a great response but even plots in the surrounding areas of the city and districts sold very quickly on day one of land auctions on Monday. In Bahadurpally, one square yard of land was sold for 30,000, while it was 28,000 per square yard in Thorrur.
The government is expecting earnings to exceed 2,000 crore by the end of four day auction. The first day yielded 179 crore.
The HMDA did the auctions for open plots in Bahadurpally and Thorrur in HMDA limits and some plots in Narketpally in Nalgonda, Bhootpur in Mahbubnagar, Kamareddy, Gadwal in Jogulamba Gadwal district, Mavala in Adilabad and Yalal in Vikarabad district.
According to officials, while the upset price for open plots Bahadurpally was 25,000 per square yard, the average bid price was 30,637 per square yard and it was 28,471 per square yard as against the upset price of 20,000 in Thorrur in Rangareddy and Medchal districts.
One square yard in Yalal in Vikrabad was sold for 11,000 and 8,800 in Jogulamba Gadwal district which indicates the real estate boom across the state and not just confined to HMDA limits,
“The response for the land auctions has been very good and the auctions will continue for the next three days,” Arvind Kumar, municipal administration department special chief secretary told TOI.
HMDA has plans to auction plots in various districts in the state till March 17. They are also geared to sell Rajiv Swagruha flats in the city and Khammam. In the layout, one plot was sold for 1, 01,000 per square yard and the lowest at 36,000 per square yard as against the average upset price 30,000 per square yard. In July last year, both HMDA and TSIIC sold land parcels in Kokapet and Khajaguda which fetched 2,000 crore.
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