HMDA to raise 120 crore through auction
Hyderabad Metropolitan Development Authority (HMDA), which is undergoing a major fund crisis at present, hopes to raise Rs. 120 crore through auction of 42 plots.
The authority which is in dire need of funds for even its own ongoing projects, has ruled out the possibility of fund transfer realized through auction to the government.
However, a lot would depend upon the fate of 4.695 acre site at Nandagiri Hills as a major slice of the expected revenue – about Rs.90 crore – is expected to come from Nandagiri Hills.
The plot has failed to get buyers in earlier rounds of auction and there were suggestions of dividing the plot into parts. However, the division of plots, road making and others factors such as layout associated with the location and level were considered as a costly venture.
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Source: The Hindu
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