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APHB auctions 18.75 acres for Rs 272.8 crore
Posted by Srini Uppala | December 10, 2007 | 372 views
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Loading ...The Andhra Pradesh Housing Board (APHB) on Monday auctioned off a prime piece of land at Hydernagar on the outskirts of the city for Rs 272.8 crore. The housing board sold off the 18.75-acre plot adjacent to the Malaysian model township at Rs 14.55 crore per acre, which means each square yard costing about Rs 30,062.
The amount is about 50 per cent more than what it would have got if the land was auctioned last month. Two bidders had quoted only Rs 9.36 crore per acre when it was put on sale last month though the upset price was Rs 10 crore. This time, five bidders, including one each from Jaipur and New Delhi, took part in the auction. City-based Aditya Constructions won the bid by quoting the highest price of Rs 14.55 crore per acre.
APHB land acquisition officer, Ms Rekha Rani, said that New Delhi-based Omex quoted Rs 14.50 crore per acre and lost the bid by a whisker. “Aditya has to pay the bid amount within three months and take possession of the land,” she added. The housing board also auctioned an 832-square yard plot at Vengalrao Nagar for Rs 4.20 crore, with an independent bidder, Mr Basava Raju, quoting Rs 50,500 per square yard. In its two previous attempts, the APHB got bids only for Rs 35,000 and Rs 40,000 per square yard forcing authorities to put off the auction.
Next on the APHB’s auction list are a 10.34-acre plot at Raidurg village in Ranga Reddy district and a 1.20-acre site at Nizampet. While an upset price of Rs 20 crore per acre has been fixed for the Raidurg land, it is Rs 25,000 per sq yd for the Nizampet site.
SOURCES:
Deccan Chronicle
Topics: Govt In Action, Real Estate, Infrastructure |
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