HMDA ropes in MSTC to avoid glitches for e-auctions

Unlike last year, when HMDA had roped a private bank and another agency, this time it is involving MSTC, a Central government enterprise for conducting the e-auction of 67 plots in Uppal Bhagayath layout.

By Author  |  Published: 23rd Mar 2019  1:32 am
HMDA
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Hyderabad: Having learnt lessons from the past auctions, Hyderabad Metropolitan Development Authority (HMDA) is now making foolproof arrangements to avoid any technical glitches in the e-auction of Uppal Bhagayath plots.

Unlike last year, when HMDA had roped a private bank and another agency, this time it is involving MSTC, a Central government enterprise for conducting the e-auction of 67 plots in Uppal Bhagayath layout.

Last year, HMDA had issued notification for e-auction of plots in Uppal Bhagayath and some plots in other parts of the city. However, due to technical glitches and other reasons, the e-auction was extended a couple of times, before finally getting cancelled.

The cancellation happened after the Earnest Money Deposit (EMD) was paid by the bidders and the same was returned to them, said officials. They had said a third party audit was also ordered to ascertain the reasons for technical glitches, besides initiating action against the private bank and the agency.

Considering all these factors, HMDA is now taking measures for conducting the e-auction smoothly devoid of any snags. MSTC is involved in conducting e-auctions efficiently this year and it had conducted auctions for HMDA in the past too.

This time, additional servers are being installed at secured places to serve as backup in case of any snags. The backup will be taken in micro seconds and bidders will not have any problems in the bidding process, explained a senior official from HMDA.

Further, the 67 plots will be divided into different slots and the auction will be conducted in different time slots on April 7 and 8. Bidders will have the option of quoting their prices in seven to eight minutes time frame, which is yet to be finalized, he said.

The system will consider the latest and highest quoted bid price and will freeze the slot for particular plot after the auction time elapses, he added.

To facilitate the bidders understand and follow the process involved in the e-auction and bidding, HMDA is conducting a pre-bid meeting with the registered bidders on Monday at its head office in Tarnaka.