Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) on Friday conducted an e-auction of 23 open plots on the outskirts of the city, generating a revenue of Rs 35.71 crore on the second day. The initiative aims to generate revenue and boost the city’s development by offering land.
The auction of plots on Friday saw a 135 percent increase over the upset price, with an average bid of Rs 58,861 per square yard against the upset price of Rs 25000 per square yard.
Hyderabad Metropolitan Development Authority auctioned 73 plots in two days
Over the course of two days, a total of 73 plots measuring 19,768.52 square yards were auctioned in Hyderabad, generating a revenue of Rs 116.36 crore.
The auction will continue on March 6. On the day, the plots in Medipally under Hyderabad Metropolitan Development Authority will go under the hammer. The plots have an upset price of Rs 32000 per square yard, and present an attractive investment opportunity for interested buyers.
TSIIC plots in neighbouring district of Hyderabad
The Telangana State Industrial Infrastructure Corporation (TSIIC) will auction 326 plots located in Rangareddy, the neighbouring district of Hyderabad, on March 9, 10, 13, 14, 15, 16, and 17. These plots are situated in Manneguda, Munaganoor, and Kawadipally.
The minimum upset price for these plots ranges from Rs 10,000 to Rs 30,000. The EMD amount for Manneguda and Munaganoor is Rs 1,00,000, while it is Rs 50,000 for Kawadipally. Interested buyers can register for the e-auction of the plots located under TSIIC by paying a non-refundable registration fee of Rs 1180.
These plots present an excellent opportunity for investors to explore the growing real estate market in Hyderabad and its surrounding areas.
Registration for e-auction of plots
Interested buyers can register on the TSIIC website (click here) for the e-auction of plots in Rangareddy, neighbouring district of Hyderabad.
The plots are free from litigation and have good road connectivity. In addition, internal road and street light infrastructural works will be completed within 18 months.
For any queries, potential buyers can contact the cell phone numbers 8186870687 or 9177527213 or 9701452763 or 9441218461 or 9666665401.
Is buying a plot in Hyderabad a better option?
For homebuyers in Hyderabad, choosing between investing in a plot or a flat can be a daunting task. However, investing in a plot can offer several benefits that are worth considering, especially given the current trend of auctions of plots in Hyderabad.
Buying an open plot in and around the city assures buyers of an exclusive, independent lifestyle and complete ownership of the land. Unlike flats, plots offer the possibility of a private and more spacious living environment without sharing land space with others.
Furthermore, owning a plot gives buyers the freedom to design and construct their dream home according to their personal preferences, including a backyard and ample parking space. Additionally, plots tend to appreciate more than flats, providing a bigger resale value in the long run.
