HYDERABAD: The much hyped public sale of land parcels by means of the Hyderabad Metropolitan Development Authority (HMDA) has became out to be a flop show with just about 50 a success bidders no longer depositing the partial bid amount even a month after the cut-off date is over.
The metropolitan authority had carried out e-auction of about 210 plots from April 22 to 24. The a success bidders had been supposed to deposit 25% of the bid amount inside of every week from the date of intimation.
While 21 plots had been left unsold, some plots had been got rid of from the public sale as there were some litigation over the valuables. Finally, 189 plots won bids that promised the HMDA about 350 crore.
Interestingly, the easiest bidder in all of the public sale, who secured a land parcel at Attapur at the price of one.53 lakh per sq. yard in opposition to an disappointed price of 20,000 per squareyard, has also no longer became as much as pay the partial bid amount. The bidder used to be supposed to pay 3 crore to the HMDA.
Official sources said that most effective 68 bidders have paid a complete of 55 crore towards 25% in their bid quantities until Monday. The sale of any other 74 plots has landed in prison wrangles as some other folks approached the courtroom in opposition to the HMDA at the identify and other problems. The public sale of six plots at puts akin to Shankarpally, Ghatkesar and Shaikpet might be cancelled as only one bid used to be won.
"The authority has sent messages to all successful bidders to pay the initial bid amount immediately. Or the bid will be cancelled and their Earnest Money Deposit (EMD) forfeited," a senior official of HMDA informed TOI. As per norms, bidders can deposit the rest 75% of the amount inside of two months, the official said.
HMDA officials said the second one easiest bidders, who purchased land in Madhapur Sector I and III at 1.52 lakh per squareyard and 1.19 lakh per squareyard, and any other at 1.11 lakh per squareyards in Shaikpet have paid the amount.
The metropolitan authority had carried out e-auction of about 210 plots from April 22 to 24. The a success bidders had been supposed to deposit 25% of the bid amount inside of every week from the date of intimation.
While 21 plots had been left unsold, some plots had been got rid of from the public sale as there were some litigation over the valuables. Finally, 189 plots won bids that promised the HMDA about 350 crore.
Interestingly, the easiest bidder in all of the public sale, who secured a land parcel at Attapur at the price of one.53 lakh per sq. yard in opposition to an disappointed price of 20,000 per squareyard, has also no longer became as much as pay the partial bid amount. The bidder used to be supposed to pay 3 crore to the HMDA.
Official sources said that most effective 68 bidders have paid a complete of 55 crore towards 25% in their bid quantities until Monday. The sale of any other 74 plots has landed in prison wrangles as some other folks approached the courtroom in opposition to the HMDA at the identify and other problems. The public sale of six plots at puts akin to Shankarpally, Ghatkesar and Shaikpet might be cancelled as only one bid used to be won.
"The authority has sent messages to all successful bidders to pay the initial bid amount immediately. Or the bid will be cancelled and their Earnest Money Deposit (EMD) forfeited," a senior official of HMDA informed TOI. As per norms, bidders can deposit the rest 75% of the amount inside of two months, the official said.
HMDA officials said the second one easiest bidders, who purchased land in Madhapur Sector I and III at 1.52 lakh per squareyard and 1.19 lakh per squareyard, and any other at 1.11 lakh per squareyards in Shaikpet have paid the amount.
HMDA land auction turns a dud
![HMDA land auction turns a dud]()
Reviewed by Kailash
on
June 06, 2018
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