HMDA’s mega land auction sets off with massive response

A total of 60 bidders who paid earnest money deposit (EMD) of Rs 5 crore participated in the e-auction. The base price was Rs 25 crore per acre.

Hyderabad: The mega land auction undertaken by HMDA on behalf of the state government on Thursday set off with a massive response with companies having global and pan India presence participating in the e-auction.

A total of 60 bidders who paid earnest money deposit (EMD) of Rs 5 crore participated in the e-auction. The base price was Rs 25 crore per acre.

On behalf of the State government, the Hyderabad Metropolitan Development Authority (HMDA) is auctioning eight plots covering 49.92 acres in Kokapet.

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Among the eight plots, four of them, plot number 1, 2, 3 and 12 in Neopolis layout have already been sold before noon. All these plots are located near the IT corridor as well as the Outer Ring Road.

The process was being monitored by HMDA office located in Swarnajayanthi Complex, Ameerpet. Dozens of cops were deployed in and around the complex.

Municipal Administration and Urban Development (MAUD) principal secretary Arvind Kumar tweeted about the auction schedule too.

“Auctions @Neopolis Kokapet by @HMDA_Gov have begun at 9 am @4 plots between 9-12 noon & another 4 plots between 2-5 pm It’s an online auction hosted by @mstcindia The upset price is kept at ₹25 crs/acre Will update once bids are finalised,” he tweeted.

The e-auction is being done by MSTC Limited, a Central Public Sector Enterprise offering e-commerce services.

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