Budwell Land Auction: Record Price

Hyderabad, Aug 10 (Hydnow):  After Kokapet, the state government is all set for the auction of the most valuable Budwel lands.  The auction continues in this order.  Whereas, the highest price was Rs. 31 crores for plot No. 4 and Rs. 30 crores per acre for Plot No. 5.  the auction is continuing for plot number 10 with Rs. 23 crores.

also, the e-auction has been slow since the beginning of the auction.  Two hours after the start of the auction, the prices have not changed much.  However, the prices have increased.  The auction started at 2 pm.  Full demand is seen for plot number 9 and 10 in the e-auction.  An average acre of Rs. 25 crores auction is going on.  Meanwhile, it is known that the auction has started with the minimum fixed price of Rs. 20 crores per acre.

Hyderabad Metropolitan Development Authority (HMDA) started the auction process on Thursday as part of the sale of Budwel layout plots which are being developed on around 182 acres at Budwel near Outer Ring Road (ORR) Rajendranagar.  Bidders and real estate companies are submitting competitive bids for plots No. 1,2 4, 5, 8, 9 10 in the first session of the auction held from 10 am to 2 pm.  Seven more plots will be auctioned in the second session from 3 pm to 6 pm.  HMDA officials explained that the plot sizes in the layout here are a minimum of 3.47 acres and a maximum of 14.3 acres.  The minimum upset rate per acre is Rs. 20 crores and this auction is being conducted. (Hydnow)   

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