Telangana sets Rs 25 cr as upset price for land auction in Greater Hyd
Real Estate

Telangana sets Rs 25 cr as upset price for land auction in Greater Hyd

For the first phase of land auctions in Kokapet and Khanamet, Greater Hyderabad, the state government has set an upset price (minimum price to be quoted) of Rs 25 crore per acre.

While the total upset price for the 65 acres is Rs 1,625 crore, the government expects to net around Rs 3,000 crore from the e-auctions on July 15.

The Hyderabad Metropolitan Development Authority (HMDA) and the Telangana State Industrial Infrastructure Corporation (TSIIC) have announced the sale of 13 land parcels in Kokapet and Khanamet's Neopolis and Golden Mile projects.

MSTC Ltd will assist the state government with the e-auctions. While registrations began on June 15, there will be a pre-bid meeting on June 25.

Among the plots slated for auction, the smallest of the plots up for auction is a one-acre plot in Neopolis, while the biggest is an 8.94 acre plot in Neopolis.

The government stated that prospective bidders must quote a minimum of Rs 20 lakh over the upset price.

TSIIC and HMDA bid participants have fixed the EMD at Rs 5 crore and the registration fee at Rs 23,600 and Rs 11,800 respectively.

Since the bidding amount is huge, the government has decided to allow successful bidders to pay in instalments. The notification said, bidders will pay 33% of the total bidding amount as a first instalment within seven days, another 33% as a second instalment within 60 days, and the final and balance amount before October 25.

Image Source


Also read: CIDCO to auction plots for residential, commercial development in Mumbai

Also read: Pimpri Chinchwad Municipal Corporation to add 1,300 hectares of land

For the first phase of land auctions in Kokapet and Khanamet, Greater Hyderabad, the state government has set an upset price (minimum price to be quoted) of Rs 25 crore per acre. While the total upset price for the 65 acres is Rs 1,625 crore, the government expects to net around Rs 3,000 crore from the e-auctions on July 15. The Hyderabad Metropolitan Development Authority (HMDA) and the Telangana State Industrial Infrastructure Corporation (TSIIC) have announced the sale of 13 land parcels in Kokapet and Khanamet's Neopolis and Golden Mile projects. MSTC Ltd will assist the state government with the e-auctions. While registrations began on June 15, there will be a pre-bid meeting on June 25. Among the plots slated for auction, the smallest of the plots up for auction is a one-acre plot in Neopolis, while the biggest is an 8.94 acre plot in Neopolis. The government stated that prospective bidders must quote a minimum of Rs 20 lakh over the upset price. TSIIC and HMDA bid participants have fixed the EMD at Rs 5 crore and the registration fee at Rs 23,600 and Rs 11,800 respectively. Since the bidding amount is huge, the government has decided to allow successful bidders to pay in instalments. The notification said, bidders will pay 33% of the total bidding amount as a first instalment within seven days, another 33% as a second instalment within 60 days, and the final and balance amount before October 25. Image Source Also read: CIDCO to auction plots for residential, commercial development in Mumbai Also read: Pimpri Chinchwad Municipal Corporation to add 1,300 hectares of land

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Panel Urges Zone-Wise Freight Plans and Crew Strengthening

A Parliamentary Standing Committee has urged the Railway Ministry to prepare zone-wise plans to enhance freight traffic in regions with limited mineral movement and industrial activity, according to its ninth report tabled in Parliament on 10 August. The Committee commended efforts to augment network capacity through multitracking, operationalisation of Dedicated Freight Corridors (DFC) and modernisation of yards. It noted that the Ministry has said periodic data-driven assessments are carried out with inputs from Zonal Railways, Divisional Railways and Business Development Units to support po..

Next Story
Infrastructure Urban

Coal India Weighs Buying Wealth Minerals Unit For Chile Lithium

Coal India Limited is evaluating a proposal to acquire the Chilean lithium assets held by the Wealth Minerals unit in Canada as part of a strategic move into battery materials. The company is assessing the asset portfolio, regulatory landscape and integration challenges while retaining coal operations as its core business. The potential interest reflects a shift by a state-owned miner towards minerals critical to the low emission transition. Wealth Minerals, a Canada-based exploration company, holds licences and exploration agreements in Chile that involve hard rock and brine lithium prospects..

Next Story
Infrastructure Energy

Bajel Projects Wins Ultra?Mega Transmission Line Contract

Bajel Projects Limited has secured an Ultra?Mega engineering, procurement and construction order for a transmission line package TL05 from PowerGrid Corporation of India Limited on behalf of its special purpose vehicle. The award forms part of the Western Region–Eastern Region inter?regional network expansion scheme Part A procured under the tariff based competitive bidding route. The contract covers construction of a 765 kV double circuit transmission line. The scope includes bypassing of the Raigarh (Tamnar)–Dharamjaygarh (Sec?B) 765 kV double circuit line and reconfiguration to form the..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement