Five plots in Khanamet fetch Rs 729.41 crore to Telangana government

Hyderabad: After the auction of eight prime plots at Kokapet, which generated a record Rs.2,000 crore revenue for the government on Thursday, the e-auction of five plots at Khanamet fetched Rs.729.41 crore on Friday. Although the upset bid amount was Rs.25 crore per acre, with the increment bid placed at Rs 20 lakh. The bids, […]

Hyderabad: After the auction of eight prime plots at Kokapet, which generated a record Rs.2,000 crore revenue for the government on Thursday, the e-auction of five plots at Khanamet fetched Rs.729.41 crore on Friday.

Although the upset bid amount was Rs.25 crore per acre, with the increment bid placed at Rs 20 lakh. The bids, however, took off sharply, ranging from Rs. 43.60 crore per acre to Rs.55 crore per acre. The average bid was Rs. 48.92 crore per acre. The highest bid of Rs. 55 crore per acre for Plot No. 14 measuring 2.92 acres was quoted by Manjeera Constructions Limited.

Overall, a total of Rs. 729.41 crore will be generated through this auction. The tremendous response reflects the steady growth and development of Hyderabad and reassures and strengthens the stability and the positive growth established over the last seven years in Hyderabad, Jayesh Ranjan, Principal Secretary (Industries), said in a statement here.

The Telangana State Industrial Infrastructure Corporation (TSIIC) conducted the e-auction of these five plots which are spread over 14.91 acres. The upset price per acre is fixed at Rs.25 crore and the increment bid is Rs.20 lakh in the bidding process. The auction, which commenced at 9 am continued till evening on Friday. The TSIIC had roped in MSTC, a Central government organization, to hold the auction.

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