india

Another round of land auction next month

Notification for e-auction of land at Khanamet and Puppalaguda to be issued tomorrow

The Telangana government will go for another round of e-auction of its land at Khanamet and Puppalaguda on the city outskirts next month to sell 117.35 acres.

While 22.79 acres in nine plots will be auctioned on September 27, as much as 94.56 acres will be up for sale in 26 plots at Puppalaguda.

Principal Industries secretary Jayesh Ranjan told The Hindu that the notification will be issued on Monday. The upset price for auction was being worked out.

In the auction taken up by Hyderabad Metropolitan Development Authority and Telangana State Industrial Infrastructure Corporation (TSIIC) on behalf of the government last month, the State government had earned ₹2,729 crore from 65 acres over 13 plots at Kokapet and Khanamet.

Fifty acres of land offered by HMDA at Neopolis layout in Kokapet abutting Financial District saw bids worth ₹2,000 crore. The auction by TSIIC of 14.91 acres at Khanamet Village near Hitex/HICC, abutting Hi-Tec City, realised ₹729.41 crore.

The upset price for the land at Kokapet was ₹25 crore per acre but the bids ranged from ₹31.2 per acre to ₹60.2 per acre with a weighted average bid amount of ₹40.05 crore per acre. It was a small plot of 1.65 acres that fetched the highest bid amount of ₹60.2 crore. The biggest plot of 8.9 acres was secured by a real estate firm for ₹39.2 crore. Seven out of eight land parcels at HMDA’s Neopolis plots were bagged by real estate firms. A pharma company owner Satyanarayana Reddy Manne secured the eighth land parcel participating in the bidding in his individual capacity.

At Khanamet, the bids ranged from ₹43.60 crore per acre to ₹55 crore per acre with weighted average bid amount of ₹48.92 crore per acre.

The auction was conducted online on the MSTC platform. The minimum bid amount was kept at ₹25 crore per acre and minimum bid increment was ₹20 lakh or its multiples per acre. The government hoped to generate ₹2,500 crore to ₹3,000 crore from the twin auctions.

The State government called bids for sale of certain government land parcels on ‘as is where is basis’ in Rangareddy district and appointed TSIIC as nodal agency for the purpose.

Source: Read Full Article