HMDA mulls e-auction of 12 plots in KPHB

The Hyderabad Metropolitan Development Authority (HMDA) has decided to develop and auction 24 acres of land in the Kukatpally Housing Board Colony (KPHB). The municipal authority will develop about 12 plots measuring about 8,000 square yards each, it is learnt.

Authorities said the development charges would be given by the housing society and an auction would be held on the online platform managed by Union government enterprise MSTC Limited. The auction is likely to fetch about Rs 1,200 crore. The HMDA’s share for developing and conducting the e-auction will be 20 per cent.

According to highly-placed sources, the municipal authority already entered into an agreement with the KPHB Housing Society pertaining to the development of 24 acres from the total 32 acres of land available at the site. The HMDA would release an official statement in a couple days and a housing site would be developed. It earned a revenue of



over Rs 2,000 crore in the auction of 49.949 acres of land in Kokapet area in Hyderabad, with the highest price being Rs 60 crore per acre. 

The authorities decided to fix the base price anywhere between Rs 35,000 and Rs 50,000 based on the location and size of the plots. Several high rise buildings would come up in the area, as the maximum plot size will be two acres.

The total 32 acres available in the KPHB, the municipal authority would only develop 20 acres. The official said the operational and maintenance charges would be borne by the housing society and HMDA would only facilitate auction and plotting the area. The HMDA has high expectations on the KPHB land auction. "The auction will fetch at least Rs 1,200 crore and the HMDA will get some land in their possession for developing though operation charges will be borne by the KPHB housing society,” he added.