Hyderabad: Uppal Bhagat, e-auction extended by ten days

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) has extended the Uppal Bhagat registration and e-auction date by ten days. Earlier, the civic body had released a notification saying that the registration process would end on September 6 and the e-auction for the plots would take place on September 8 and for others on September 9.

The HMDA took this decision citing lukewarm response from the citizens for the registration process. Authorities are of the opinion that if they go for the auction with the same, it would not reach the target of Rs 500 crore. As many as 82 developed plots and 13 plots within the HMDA approved private layout (gifted to HMDA), adding up to 95 plots have been put on e-auction. Buyers wishing to purchase the plots can log on to www.hmda.gov.in or hmda.auctiontiger.net  for more details. Bidders should pay Rs 500 towards registration and an earnest money deposit (EMD) of 10 per cent of the estimated cost of the plot on the upset price. Upon confirmation of the allotment, the bidder has to pay 25 per cent of the price within a week and the remaining 75 per cent EMD in the next 60 days.

HMDA will also offer the option of installments extending after 60 days, which may be paid over a year along with a certain rate of interest. 

It will issue the required affidavit or No Objection Certificate (NOC) to the successful bidder to enable him to obtain a bank loan and forward the registered sale deed directly to the bank.