HMDA Notifies auction of 100-acre Budwel plots following successful Neopolis Layout e-auction

The e-auction of empty government plots at Budwel is scheduled to be held from 11 am to 6 pm on Thursday, August 10.

Hyderabad: Buoyed by the record collections from the e-auction of Neopolis Layout Kokapet (phase-II), the Hyderabad Metropolitan Development Authority (HMDA) on Friday notified auction of 14 open plots spread over 100-acres at Budwel near Rajendranagar.

The e-auction of empty government plots at Budwel is scheduled to be held from 11 am to 6 pm on Thursday, August 10. The last date for registration to participate in the e-auction is 5 pm on Tuesday, August 8 and last date for EMD payment is up to 5 pm on, Wednesday, August 9. The HMDA is organizing a pre-bid meeting with prospective investors on Sunday, August 6.

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In all, a total of 14 plots of varying sizes, from 3.47 acres to 14.33 acres, with a minimum upset price of Rs 20 crore for an acre, will be available for e-auction on August 10.

Based on the payment schedule released in the HMDA notification, first installment (initial deposit) minimum of 33 percent of sale value excluding EMD shall be paid within 7 days from the date of issue of letter of offer. The second and final installment, the balance sale value including EMD shall be paid within 30-days, the notification said.

Some of the highlights of the Budwel Layout including 100 percent clear assured title of the government land with no encumbrances, multipurpose use zone, unlimited FSI subject to AAI NOC, 15 minutes from airport and Neopolis, Budwel station on ongoing Airport Express metro line and Direct access to ORR.

“Don’t miss this opportunity. This is another greenfield project that is coming up at Budwel. A total of 14 plots totaling 100 acres are being auction on August 10,” Special Chief Secretary, Municipal Administration and Urban Development (MA&UD), Arvind Kumar said.