Last Chance To Own A Huda Plot in Hyderabad

Last Chance To Own A Huda Plot in Hyderabad

Leftover plots in all its layouts are being auctioned to raise Rs. 400 crore for its Outer Ring Road Phase II project, writes Melly Maitreyi.

With the land prices in the city and surroundings at their zenith, Hyderabad Urban Development Authority has perfectly timed auctions of left over prime residential plots, commercial, commercial-cum-residential, schools and hospitals spaces in its layouts, developed long ago.

With the land value appreciating to unprecedented levels with the real estate sector enjoying a boom despite some correction in the recent months, HUDA hopes to raise enough resources towards its share for the Outer Ring Road second phase to be taken up shortly through the auction.

Auction dates

And for the investors keen to invest in a HUDA plot in its already existing developed layouts, this could be the last chance to own a HUDA plot as all the leftover plots in all its layouts are being put up for auction.

The auctions slated for September 12, 13 and 14 at HUDA office in Rasoolpura, Secunderabad, would be held for left over prime plots in the above mentioned categories at Nandagiri Hills, HUDA Heights, HUDA Techno Enclave, Madhapur, Asifnagar (New), Miyapur, Ramachandrapuram (Chandanagar), Nalagandla, Tellapur, Vanasthalipuram and also houses at Ramachandrapuram and Vanasthalipuram residential complexes. In all, 263 leftover plots under all categories would be auctioned, with maximum of 102 plots in Miyapur. Along with the left over plots, HUDA is also auctioning prime plots in its latest prestigious project, ‘Pentagon’ at Miyapur in an extent of 105 acres adjoining Miyapur Residential Complex. The plots would be offered in nine blocks in the range of 3 acres to 22 acres towards multiple purpose use for software, institutions, commercial, recreational, group housing for gated communities.

The Pentagon site at Miyapur is located in the serene surroundings against the backdrop of small hillocks and is close to Hyderabad-Bombay national highway. Rockdale Greens is located behind the Quli Qutubshah Tombs and Dargah on Old Bombay road close to Hitech City.

The site plans for all the layouts are displayed at HUDA office and also at the site. HUDA promises to provide all the infrastructure facilities within a period of one year. The upset price fixed by HUDA for Nandagiri Hills layout, residential and group housing is Rs.45,000 per square yard, but the EMD for residential is Rs.20 lakh and for group housing, Rs.1 crore. For HUDA Heights, Banjara Hills Rd.No.12, the upset price is Rs.45,000 per sq.yard and EMD is Rs.20 lakhs and for HUDA Techno Enclave Madhapur, commercial, the upset price is Rs.45,000 per sq.yard.

Prestigious project

In Asifnagar, the upset price is fixed at Rs.25,000 per sq.yard with an EMD of Rs.20 lakhs, while for Miyapur, Ramachandrapuram (Chandanagar), Nallagandla and Tellapur, Vanasthalipuram, it is Rs.15,000 per sq.yard. Along with Pentagon, HUDA is offering for auction another prestigious project ‘Rockdale Greens’ in an extent of 8.02 acres at Tanasha Nagar (Pokalwada) in Ranga Reddy district, quite close to Hitch City. The site to be disposed of as a single unit can be used for construction of residential, integrated developments, group housing apartments etc. Auctions for both these projects would be held on September 17.

Upset price

The upset price for Pentagon is Rs.7.26 crore per acre and for Rockdale Greens, it is Rs.8.70 crore per acre and the Earnest Money Deposit for both the sites is Rs.1 crore.

The sources say that response has been good ever since the sale of applications commenced from September 3 and before that too, the authority has been receiving lot of enquiries from locals and the NRIs.

The USP of HUDA plots is that they are litigation free and the organisation is accountable and moreover the upset price is reasonably fixed, at less than prevailing market prices, they add.

HUDA Secretary D.Ramarao said that they hope to raise about Rs.400 crore through auctions. The allotment of plots would be through auction-cum-sealed tender to the highest bidder/tender.