Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) is gearing up to conduct an auction of prime open plots in Hyderabad, Rangareddy and Medchal-Malkajgiri districts.

According to a report published in TOI, the auction is going to be held for three days in September.

Auction of prime open plots in Hyderabad

Quoting the authority, the report mentioned that the e-auction is going to be held on September 17, 18 and 19.

During the auction, 93 plots will be made available. Out of them, 70 are located in the Bachupally HMDA layout.

The remaining plots are located in Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.

Highest upset price

As per the report, in the upcoming auction of prime open plots in Hyderabad and other districts, the highest upset price is Rs 1.75 lakh per square yard for a land parcel of 8591 square yards.

For another plot in Poppalguda admeasuring 1630 square yards, the upset price is Rs 1.20 lakh per square yard. Other plots are kept in the range of Rs 35000 to Rs 70000 per square yard.

The successful bidders need to pay 25 percent of the bid amount within one week. The remaining amount needs to be cleared within two months.

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