HMDA to auction 103 plots online from September 17
HYDERABAD: Hyderabad Metropolitan Development Authority (HMDA) has announced an e-auction of 103 plots in and around the city, scheduled from September 17 to 19.
Auction to be held in Turkayamjal, Bachupally, Medchal
On September 17, 12 plots in Turkayamjal will go under the hammer, followed by 70 plots in Bachupally on September 18. On September 19, four plots in Ranga Reddy district and seven in Medchal district will be auctioned.
Base price between ₹65,000 and ₹1.20 lakh per sq yd
Officials said the upset price varies by location, from ₹65,000 to ₹1.20 lakh per square yard. Successful bidders must pay 25% of the plot value immediately after allotment, and the remaining 75% in instalments within the stipulated period.
Pre-bid meets draw poor response
HMDA had organised pre-bid meetings earlier this month, but officials admitted that buyer turnout was low. “Usually, these sessions see large participation. This time only a few potential buyers turned up,” an officer said.
Buyers raise concerns over high prices
Local realtors pointed out that market rates are lower than HMDA’s reserve prices. A realtor from Turkayamjal said, “Here, the market price is ₹40,000–₹45,000 per square yard, but HMDA has fixed ₹65,000. This may discourage buyers.”
In Turkayamjal, 12 plots ranging from 600 sq yds to 1,146 sq yds will be auctioned. In Bachupally, 70 plots sized between 266.67 sq yds and 499.96 sq yds will be put up for sale at ₹70,000 per sq yd.
Demand may be weaker than in past
HMDA’s previous auctions at Kokapet, Uppal Bhagath, Budvel and Mokila had seen record bids, with Kokapet plots fetching up to ₹100 crore per acre. However, with the current real estate slowdown, high reserve prices, irregular plot shapes and lack of approach roads in some layouts, officials acknowledged that response could be muted this time.
Registrations for the auctions are open until September 16 for Turkayamjal plots and until September 17 for Bachupally plots. Interested buyers must pay ₹1,180 as registration fee.
