Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) is all set to conduct an e-auction of 218 open plots on May 22, 23, and 24. The plots are free from litigation and have good road connectivity. In addition, infrastructural works related to internal roads and street lights will be completed in 18 months.
The auction has set different upset prices based on the location. For the open plots at Bachupally, outskirts of Hyderabad, the price is Rs. 25000 per square yard whereas, for plots at Medipally, it is Rs. 32000 per square yard.
Registration for e-auction
The sizes of the open plots in Hyderabad vary. At Bachupally, the size is 265-576 square yards whereas, at Medipally, the size is 230-643 sq. yards.
Registration for the e-auction of plots in Medipally and Bachupally can be done on the HMDA website (click here). The EMD amount for plots at both places is Rs 1, 00, 000. For site visits of HMDA plots and queries, cellphone numbers 7396345623 or 9154843213 can be dialed.
Open plots vs flats in Hyderabad
In order to understand the pros and cons of flats and open plots in Hyderabad, certain parameters need to be analyzed.
The open plots will be a better option if flexibility in building a dream house as per one’s preferences and taste is the priority. In the case of flats, there is no complete freedom in deciding the structure of the house.
If higher returns are the top priority, open plots are a better option. Due to the limited supply of land, plots appreciate faster than apartments. Flats, on the other hand, are prone to deteriorate over time, which may lead to a decrease in their value.
When it comes to financial assistance, arranging funds for open plots may be a little difficult as Loan-to-Value (LTV) for plots is less when compared to flats in Hyderabad. On the other hand, financial assistance is easily available for purchasing flats.
Lastly, if the intention behind buying property is rental income, then flats will be a better option as income will not be generated immediately in the case of plots.
