· Reg News prediction becomes true
· 182 acres to be auctioned in first phase
· Price of an acre is likely to
be around Rs. 30-35 crore
The Real Estate Guru predicted when CM K Chandrasekhar Rao laid the foundation stone for the Raidurgam-Airport Metro Rail project that the state government has plans to bring large amounts of land parcels under the auctioneer’s hammer to mop up crores of rupees of revenue. In December last, it published a report to the effect that the state wants to generate Rs 40,000 crore by auctioning 1000 acres. It also pointed out that the government will market the lands taking advantage of the lake nearby. Moreover, the HMDA named it as Lake City. First and foremost, much ahead of others, the Reg News in its February 25 published a story on government plans under the catchment area of Himayat Sagar under the title “Sagara Teeramlo Sarikotta Abhivruddhi.”
According to the prediction of the Reg News, the HMDA has begun operations to sell government lands in Budwel. First and foremost, 182 acres would be developed into a green field city, according to the HMDA. The area of each plot varies between 6.13 acres to 14.58 acres. The total land to be brought under the hammer is put at 60.08 acres. In the process, it has drawn up plans to dispose of seven plots under the survey numbers of 283/P, 284/P, 287/P, 288/P, 289, 290, 291, 292, 293, 294, 295, 296, 297, 298 and 299/P.
The government will spend at least Rs 200 crore to develop infrastructural amenities in the layout. It would take at least 18 months to do so. The HMDA has been keen to develop the layout in the most modern way to suit the purposes of companies, investors and realtors. With the advent of Hi-Tech city on the outskirts of Hyderabad, the Gachchibowli, Knowledge City and Kokapeta witnessed development. Rajendra Nagar also joins the list. Kismatpur is just a stone’s throw away distance from the proposed HMDA Lake City project. One can reach ORR in five minutes and to any other place in the city easily. The government declared the Lake City project as the multiple-use zone. As a result, office complexes, residential, retail and entertainment, health care projects can be launched here. The successful bidders will receive all clearances for development of the site in three weeks.
Depending on the area of the site, width of the road, the developers can build high-rise structures here. Internal roads would have a width of 36 feet. A clear picture is yet to emerge on the auction schedule. Once the ED probe into the liquor scam dies down, the auction dates are likely to be announced. One should adopt a wait and watch attitude to find out the pulse of the prospective bidders on the outcome of the bidding taking place in an election year.
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