Hyderabad: A cash-strapped Hyderabad Metropolitan Development Authority (HMDA) is gearing up to auction the leftover open plots in Uppal Bhagath layout and a few stray bits in other layouts to fill its coffers and take up different development works. It had auctioned few plots developed in different layouts at Saroornagar and other areas in the city back in the year 2012. This time authorities have identified nearly 1.10 lakh square yards in Uppal-Bhagath layout alone apart from the developed Uppal-Bhagath layout spread over 413 acres.
HMDA had allotted plots to the land owners, who lost lands due to acquisition under Musi River Front Development, besides completing the registration process. After allotment of plots to the land owners, the HMDA officials have now identified over 1.10 lakh square yards open place in the layout, which is suitable for auctioning. Officials expect the auction would yield nearly Rs 450 crore for HMDA. More particularly after the launch of Hyderabad Metro Rail services, land prices in this part of the city have witnessed some revision and this augurs well, said a senior official.
The idea is to conduct online auction as this will facilitate many people to participate, besides ensuring transparency. Admitting the move, HMDA Commissioner T Chiranjeevulu said the plans were to be finalised and approval has to be taken from the government for the same. At present, quite a few leftover plots are available in Miyapur, Nallagandla, Tellapur, Madhapur and other areas. Since all these areas are home for information technology and corporate companies, authorities expect the demand to be high and help them in generating decent revenue.
The size of leftover plots in these areas varies from 60 yards to 600 yards. Apart from generating revenue, officials opine that auctioning the plots would help in saving them from encroachments. Further, HMDA is banking on revenue from Land Regularisation Scheme. Nearly 1.70 lakh applications were filed under the scheme by applicants over a year ago. Apart from the application fee, HMDA expects to generate additional Rs 500 crore through regularisation fee and other charges.