TS government’s land auction move evokes huge response

Hyderabad: The recent notification issued by the state government to auction prime land parcels on Hyderabad outskirts has been evoking good response from prospective bidders. Several corporates, real estate firms, IT firms etc took part in pre-bid meeting conducted on June 25.

Though the government prescribed a minimum bid price at Rs 25 crore per acre, the government hopes to get between Rs 40 crore and Rs 50 crore going by the huge response.

Official sources said over 100 bidders took part in the pre-bid meeting and had their doubts clarified with officials on the e-bidding. The government had issued notification on June 15 for the e-auction of 13 prime plots in Kokapet and Khanamet.

The last date is July 13, while the registration fee for each plot is Rs 11,800, inclusive of the GST. The earnest money deposit (EMD) is Rs 5 crore per plot which can be paid till till 5 pm of July 14.

The HMDA has put its eight plots totalling 49.91 acres in Kokapet and five in Khanamet of 15.01 acres belonging to the TS Industrial Infrastructure Corporation (TSIIC) up for auction. The e-auction of the Kokapet plots, named ‘Neopolis Layout’, will be held on July 15 and that of Khanamet plots on July 16.

The government is hopeful of earning up to Rs 2,500 crore from 13 plots which vary in size from one acre to 8.94 acres. All plots are bound by 36 metre and 45 metre roads.

As per the conditions, after the completion of the e-auction, the highest bidder has to pay minimum 33 per cent of the sale value as the first instalment within seven days upon confirmation of the allotment, the second instalment of 33 per cent sale value has to be paid within two months and the final instalment should be paid before October 25.

Official sources said the plots in ‘Neopolis Layout’ were in high demand as they were getting several enquiries from bidders.