Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) is all set to conduct an e-auction of 14 open plots in Budwel, Telangana on August 10, 2023. The pre-bidding meeting is scheduled to be conducted on August 6, 2023.
The minimum upset price of the plots is set at Rs. 20 crore per acre. The last date for registration for the open plots is August 8, 2023.
The plots are just 15 minutes away from both the Hyderabad Airport and the Financial district. From Neopolis layout too, the plots are just 15 minutes’ distance.
Payment schedule
Upon confirmation, the first instalment of a minimum of 33 percent of the sale value, excluding EMD, needs to be paid within seven days from the date of the issue of the letter of offer.
The second and the final instalment, which will be the balance sale value including EMD, needs to be paid within 30 days.
For more details, bidders can log onto the official website of HMDA (click here).
Open plots vs. flats in Hyderabad
To understand the pros and cons of flats and open plots in Budwel or any other areas in Hyderabad, certain parameters need to be analyzed.
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 the 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.
