HMDA holds plots auction to boost real estate

If for some, it is to build a house of their own that is designed as per their choice and cater to their needs and aspirations, for others, a plot is preferred for investment by others amid the common belief that land value escalates faster than built up space. That’s where plots offered by government agencies such as Hyderabad Metropolitan Development Authority (HMDA) and Housing Board end up as the most sought after and are preferred choice for prospective buyers.

And as if in answer to the prayers of these sections of buyers and in a step that is sure to propel further the momentum of real estate in Hyderabad and surrounding places, the HMDA has decided to place a major chunk of plots available with it under the hammer.

Almost 11 years after its last auction, the HMDA decision to auction 237 plots of different sizes, measuring over 1.24 lakh square yards in different areas, has already raised curiosity levels among prospective buyers and also the real estate sector. Last time when the HMDA went ahead with auctions, it was



NRIs who were found to have evinced more interest in the plots.

Unlike in the past, the HMDA is now offering plots both in some core areas of the city and on outskirts and also immediately beyond. Among the 237 plots on offer this time, 146 plots are leftover plots in different layouts and the ones which failed to get a buyer in earlier auctions.

And coming in different sizes, the plots are also expected to cater the budgets different income groups, including low and middle class segments. Buyers this time will be having a lot of choice to select from both in terms of plot sizes and the locations as well. There are 146 plots in 13 layouts at Tellapur, Mailardevpally, Nallagandla, Gopanpally, Chandanagar, Saroornagar, Neknampur, Jubilee Hills, Attapur, Madhapur, Shaikpet, Vanasthalipuram and Miyapur spread over 89,211 square yards.

Among these, a maximum of 48 plots are available in Miyapur alone, covering an area of about 28,757 square yards.

Similarly, there are 91 plots in the semi urban areas and villages of Bachupally, Choutuppal, Shankarpally, Mamidipally, Bhongir, Makthal, Ameenpur, Ghatkesar, Chintapallyguda, Anantharam, Pocharam (Ghatkesar) and Jalpally, spread over 35,476 square yards.

While the high income groups can opt for the plots in the core areas, the middle and low income can opt from those on offer in the suburbs as per their budget. In an effort to ensure transparency and to rule out the role of middlemen, HMDA this time too will be auctioning the plots online, facilitating participation of buyers, especially those hailing from the State and settled across the globe.