Auction of 1978 plots in 10 areas

The Telangana government is making efforts to revive the real estate sector, which has been stagnant for some time. In this context, the government under Chief Minister Revanth Reddy has decided to auction residential plots in Hyderabad Metro Development Authority (HMDA) layouts. Officials are preparing to sell plots in HMDA-developed ventures not only in Greater Hyderabad but also in several outskirts of the city. Plans have been made to generate revenue through the sale of these plots, and all arrangements for online bidding have been completed by HMDA. Following a positive response to recent sales of housing board lands, the government has now decided to auction plots in HMDA ventures. Construction activities are gradually picking up in various outskirts of the city, and officials estimate that demand for HMDA lands will also be strong. Compared to private ventures, more people prefer to buy plots in HMDA layouts. Since these lands are free from legal disputes, buyers ranging from common people and middle-class groups to wealthy individuals, builders, and realtors are showing interest in purchasing HMDA lands and plots. Additionally, infrastructure facilities such as roads, drainage, drinking water, and electricity are well-established in HMDA ventures. The huge response to lands sold by HMDA in various areas in the past serves as evidence of this growing demand. Officials have completed all arrangements in several areas where HMDA ventures currently exist. Residential plots are ready for sale in locations such as Inmulnarva near Shamshabad, Lemoor near Srisailam Road, Kurmalguda, Torrur, and Pratap Singaram. In some places, HMDA has developed layouts on its own land, while in areas like Pratap Singaram and Medipally, land was acquired from farmers for development. In these ventures, 60% of the plots have been allocated to farmers, and the remaining 40% of the land parcels are being sold through online bidding by HMDA. Earlier, HMDA land auctions in places like Budwel and Mokila received a good response, and some plots there are still ready for sale. An acre of land in Kokapet sold for Rs 100 crore, while in Budwel, the price reached Rs 44 crore per acre. In the past, there was huge competition for purchasing plots in HMDA-developed layouts, with even middle-class families aspiring to fulfill their dream of owning a home buying HMDA lands. Officials believe that auctioning plots in several newly developed areas will attract a good response once again. They expect strong demand particularly for ventures in Mokila, Budwel, Torrur, and Pratap Singaram. The government estimates that selling the currently available lands and plots could generate revenue of at least Rs 5,000 crore.