There are no bidders to buy plots in Torruru on the city outskirts. The response is termed unusual to the HMDA’s auction of sites. Generally, its auctions receive overwhelming support from bidders. Surprisingly, there are no takers for sites in Torruru. Generally, at least two people vie for each site of the HMDA when the sites are brought under the auctioneer’s hammer. In Torruru, only 25% (12) of the total 48 plots were sold in the HMDA’s auction.
Perturbed at the recession in the USA, many overseas IT workers, afraid of losing their job, are not investing their money in plots and flats rather recklessly as they did earlier. IT workers in Hyderabad are also nowadays a worried lot. Some of them are not investing their money in realty unless it is absolutely necessary. They prefer to buy sites in hot locations if the price is less than the market price. As per Hyderabad rules, the demand for developed layouts is very good. It is a universal fact.
The HMDA bid prices are applied to other plots in the region too. Market experts say that the plots have been sold in auction under certain special circumstances. Extending the inflated prices to lands in other ventures is not justified. The people are averse to take part in the HMDA bidding for sites due to the confusion allegedly created by the middlemen.
