Hyderabad: A day after the Telangana government earned Rs 729 crore in e-auction of lands at Khanamet near Hitex city, the state high court on Saturday stayed the sale via auction of one plot.
The decision comes after four people approached the high court stating that the graves of their ancestors lie in plot number 17, which was bought by linkwell telesystems pvt ltd. at 46 crore 20 lakhs at the e-auction on Friday.
The high court issued interim orders staying the e-auction of that particular plot. However, Telangana State Industrial Infrastructure Corporation (TSIIC), which conducted the e-auction of Khanamet lands, sought time to file a counter petition. The matter is now posted to August 5.
On Friday, TSIIC successfully auctioned 15 acres of land at Khanamet and earned Rs 729 crore for the state government. The highest bid among the bidders was for 3.69 acres of a land parcel by GVPR Engineers Ltd, which made a bid for Rs. 185.98 crore for it. Second was by Manjeera Constructions Ltd, which bid Rs. 160.60 crore for a land parcel of 2.92 acres.
In total, the state government earned Rs. 48.92 crore per acre on an average, hence totalling to Rs. 729 crore.
A day earlier, eight prime slots in the Kokapet area of the city earned a whopping Rs 2000.37 in the e-auction held by Hyderabad Metropolitan Development Authority (HMDA). The bids ranged from Rs 31.2 crore to Rs 60.2 crore, with a weighted average bid amount of Rs 40.05 crore per acre.