Five plots of land near Hitex put up for auction, to recover TS govt 730 cr.

The Telangana government is expected to make nearly 730 crore in an auction held Friday for five plots measuring nearly 15 acres in the village of Khanamet, near Hitex / HICC.

While the starting price was 25 crore per acre, bids ranged from 43.60 crore per acre. The weighted average bid amount was 48.92 crore per acre.

The final bid of 55 crore per acre for a 2.92 acre parcel was the highest bid. Overall, 729.41 crore will be generated from this auction, an official statement on the auction undertaken by the Telangana State Industrial Infrastructure Corporation (TSIIC) on behalf of the government said.

Listed in Khanamet Village Inquiry # 41/14, the plots abut Hitec Town and together have an area of ​​14.91 acres. Giving details of the highest bidders, the release said GVPR Engineers Ltd., with its bid of 50.40 crore per acre, emerged H1 for a 3.69 acre parcel. The government will make 185.98 crore from this auction.

For a 2.92 acre lot, Manjeera Constructions Ltd., was H1 with an offer of 55 crore per acre, resulting in revenue of 160.60 crore for the government.

Linkwell Telesystems Pvt Ltd., was H1 for two plots. In the case of one of the parcels measuring 3.15 acres, its supply of 48.60 crore per acre was the highest. For the second parcel, Linkwell offered 46.20 per acre for a two acre parcel. The realization for the government of the auction of the two plots will be 153.09 crore and 92.40 crore respectively.

Uptown Life Projects with its bid of 43.60 crore per acre was H1 for 3.15 acres of land, resulting in revenue of 137.34 crore for the government. The auction was conducted online on the MSTC platform via an online auction method.

Industries Secretary Jayesh Ranjan said the huge response reflects the constant growth and development of Hyderabad and reassures, reinforces the stability and positive growth established over the past seven years in Hyderabad.

The development comes a day after an auction of eight plots by HMDA in Kokapet, adjoining the financial district, brought in 2,000.37 crore. The highest bid in the auction for a total of 49,949 acres, also conducted online, was 60 crore per acre. The weighted average auction amount at the auction was 40.05 crore per acre.