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Thursday, September 13, 2007

City Talk: 755 Sq.Yard plot for Rs 6 Cr in Nandagiri

HYDERABAD: The coveted 755.87 square yard plot atop Nandagiri Hills in Jubilee Hills went under the hammer for Rs 6.04 crore at an auction held by Hyderabad Urban Development Authority (Huda) here on Wednesday. Just three bidders participated in the open auction to own the prized plot from where one can get a panoramic view of the city. Though Huda fixed Rs 45,000 per square yard as the upset price, the land went for nearly Rs 80,000 per sq yard, raking in Rs 6.04 crore to the urban authority.

The bidding process started with Rs 66,000 and concluded at Rs 80,000 per sq. yard. There was fierce competition among the three bidders to own the north-facing plot, but Suchirindia Developers chief executive officer Y Kiron Kumar finally quoted the winning bid with Rs 80,000 per sq yard. "It was my dream to construct a good house on the hilltop. I wanted to own this plot irrespective of the price. My dream has come true,'' Y Kiron Kumar told media. At the auction, Jubilee Hills Cooperative House Building Society secretary T Devender Reddy bought a 920.92 sq yard plot at Huda Techno Enclave, Madhapur. He plans to exploit it for commercial purpose. Two bidders participated in the open auction. Huda fixed Rs 1 crore as EMD and Rs 45,000 per sq yard as upset price. Devender Reddy quoted Rs 73,000 per square yard and won the bid.

M/s Aditya Housing Infrastructure Limited, Hyderabad, bought plots under 'Individual', 'Group Housing' and 'Commercial' categories. Under 'Individual' categories, they bought plot nos 133 to 139 and in group housing from I to VII and one plot (C1) under commercial group at Tellapur. On the first day of the auction, Huda auctioned plots at Nandagiri Hills, Huda Heights Phase-II, Huda Techno Enclave, Asif Nagar (New), Ramachandrapuram Ringtown and Tellapur. Thirty-nine plots were bought by bidders and as a result Huda to earn Rs 100.54 crore. The auction would continue till September 17 at Huda's head office Paigah Palace.

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