Telangana government is set to realise nearly ₹730 crore from an auction held on Friday for five plots measuring almost 15 acres in Khanamet village, near Hitex/HICC.
While the upset price was ₹25 crore per acre, the 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 plot was the highest bid. Overall, ₹729.41 crore will be generated from this auction, said an official release on the auction undertaken by Telangana State Industrial Infrastructure Corporation (TSIIC) on behalf of the government.
Figuring in Survey No. 41/14 of Khanamet village, the plots abut Hitec City and together their extent is 14.91 acres. Giving details of the highest bidders, the release said G.V.P.R Engineers Ltd., with its bid of ₹50.40 crore per acre, emerged H1 for a 3.69 acre plot. The government will realise ₹185.98 crore from this auction.
For a 2.92 acre plot, Manjeera Constructions Ltd., was H1 with a bid of ₹55 crore per acre, translating into a revenue of ₹160.60 crore for the government.
Linkwell Telesystems Pvt Ltd., was H1 for two plots. In case of one of the plots measuring 3.15 acres, its bid of ₹48.60 crore per acre was the highest. For the second plot, Linkwell bid ₹46.20 per acre for a two-acre plot. The realisation for the government from 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 acre plot, translating into a revenue of ₹137.34 crore for the government. The auction was conducted online on MSTC platform through online bidding method.
Industries Secretary Jayesh Ranjan said “the tremendous response reflects the steady growth and development of Hyderabad and reassures, strengthens the stability and the positive growth established over last seven years in Hyderabad.”
The development comes a day after an auction of eight plots by HMDA in Kokapet, abutting the Financial District, raked 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 bid amount in the auction was ₹40.05 crore per acre.