Telangana government has already made Rs 2,000 crore from the auction of Kokapet and Khanamet lands. Once again, HMDA has put the lands up for sale. But this time, it is selling the plots that were unsold in the last auction at Uppal Bhagath. It includes residential as well as commercial plots. Officials say the sale is likely to fetch over Rs 1,000 crore.
The government is making crores of rupees every time it sells land. HMDA is collecting huge revenue with the sale of lands. HMDA has raised Rs 1,400 crore through land sales four times in the last five years. In Uppal Bhagath, HMDA raised nearly Rs 400 crore from the sale of Phase One lay-out land. After that, it has earned nearly Rs 1,000 crore through two auctions of Phase Two, Miyapur and Kukatpally lands.
Recently, the government got another Rs 2,000 crore from the Kokapet and Khanamet lands e-auction. Once again HMDA is ready to auction the remaining 44 plots in the Uppal Bhagath layout. This time the e-auction includes residential and commercial plots. HMDA will auction off existing plots ranging from 200 yards to 2,000 yards. A total of 35 lakh yards will be sold.
Officials believe that the government has a chance of earning over Rs 1,000 crore from the sale of these. The auction happens in MSTC. The Registration and EMD payments are allowed till the 30th of this month. Online bidding for Uppal Bhagath plots will begin on the 2nd and 3rd of next month.
HMDA has fixed the price at Rs 35,000 per yard. A minimum bid increase of Rs.1000 is mandatory Officers divided the flats into 300, 500, 1000, 2000 yards. In the past, when Uppal Bhagath lands were auctioned, the highest price was Rs 82,000 per acre. HMDA hopes for a better rate this time around. It is estimated to cross nearly Rs 1,000 crore.