HMDA to issue notification for auction plots soon
The Hyderabad Metropolitan Development Authority (HMDA) has decided to issue a notification for auctioning plots soon.
The auction will be conducted through e-bidding, where people will have to quote their price online.
The HMDA authority would put up 44 plots in the proposed auction. The plots will be put for auction in leftover areas like Nallagandla, Miyapur, Ramachandrapuram, Tellapur and Gopanpally.
P Krishna Mohan Reddy, HMDA member told the date of auction and price for each plot will be finalised by the metropolitan commissioner on Monday.
The minimum price of plots is likely to be Rs 10,000 per sq yard. Officials were considering reducing prices of plots which are less in demand, said sources.
The HMDA is expected to raise about Rs 355 crore through sale of land and plots.
To read more real estate stories:
Declining Cost of apartments in Hyderabad
Boulder Hill project construction will remain on Hold
Source: The Times of India
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