Telangana Government receives Rs 720.41crore on second day of e-auction

Hyderabad: Telangana government received Rs 729.41 crore by sale of land at Khanamet on the second day of e-auction here on Friday. The Telangana State Industrial Infrastructure Corporation on behalf of the State Government undertook the auction of government land parcels to the extent of 14.91 acres at Khanamet Village in Survey No. 41/14, near Hitex/HICC, abutting HITEC City on Friday.

The auction was conducted online on MSTC (Govt. of India Undertaking) platform through online bidding method. The minimum bid amount was kept at Rs 25 Crore per acre with minimum bid increment of Rs 20 Lakhs or its multiplies per acre.

The auction commenced at 9 am for 5 plots measuring a total of 14.91 acres. Based on the online bidding, following were the H1 bidders. Though the upset bid amount was Rs 25 crores per acre, the bids ranged from Rs 43.60 Crores per acre with weighted average bid amount of Rs 48.92 crore per acre. The final bid of Rs 55 crore per acre for Plot No 14 measuring 2.92 crore is the highest bid.

Overall, a total of Rs 729.41 crores was generated through this auction. The tremendous response reflects the steady Growth and Development of Hyderabad and reassures, strengthens the stability and the positive growth established over the last 7 years in Hyderabad, said Industries Principal Secretary Jayesh Ranjan.