Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) is going to conduct an auction of 38 open plots located on the outskirts of the city. The auction will be conducted in two sessions on January 18.
The authority has set different upset prices based on the location. For the open plots at Nallagandla, outskirts of Hyderabad, the price is Rs. 1.50 lakh/sq.yard.
Similarly, the prices of open plots in Dargah Hussain Shahwali and Chandanagar in Serilingampally and Kokapet are set as Rs 1 lakh per sq. yard and Rs 1.10 lakh per sq. yard respectively.
Sizes, upset prices of plots
The sizes of the plots vary. However, the majority of them are more than 1000 sq. yards. The biggest plot of size 9,680 sq yards is located in Puppalaguda in Gandipet.
When it comes to bidding, the upset price ranges from Rs 10, 000 to Rs 1.5 lakh per sq. yard. The authorities have fixed Rs 1.5 lakh per sq. yard for open plots located in Nallagandla, outskirts of Hyderabad. The lowest upset price of Rs 10,000 was fixed for land in Isnapur.
For Rangareddy, the pre-bid meeting is scheduled to be held on January 4, 2023, whereas, for Sangareddy, it will be conducted on January 5. For those who are interested in Medchal-Malkajgiri, the meeting will be held on January 6.
Those who are interested in the e-auction of the plots located in the area that falls under the Hyderabad Metropolitan Development Authority need to pay a registration fee of Rs. 1180 for each plot.
All the plots are not only free from litigation but also have good road connectivity. All basic amenities such as drinking water, underground sewerage, etc., will be made available.
Open plots yield better returns than apartments in Hyderabad
Those who want to own a house in Hyderabad are always in a dilemma about whether to buy a plot or an apartment.
Investing in plots has its own benefits. First, buying an open plot in and around Hyderabad would not only guarantee a premium and independent lifestyle but also ensures total ownership of the land.
Second, buying a plot will also ensure privacy as unlike apartments, plot owners do not share land space with others.
Third, a plot gives an option to build a dream home along with a backyard, parking space, etc.
Last but not the least, plots can have a bigger resale value since they appreciate more than apartments.