The Hyderabad Metropolitan Development Authority (HMDA) has generated a revenue of over INR 88 crore by auctioning plots in Medipally village, Medchal-Malkajgiri district. Against the upset price of INR 32,000 per sq yard, the auction received an average bid price of INR 58,730 per sq yard. The highest bid price was INR 63,000 per sq yard.
Meanwhile, the Telangana State Industrial Infrastructure Corporation (TSIIC) auctioned 326 plots in Rangareddy, Hyderabad’s neighbouring district. These plots are situated in Manneguda, Munaganoor, and Kawadipally. The minimum upset price for these plots ranges from INR 10,000 to INR 30,000. The EMD amount for Manneguda and Munaganoor is INR 1,00,000, while it is INR 50,000 for Kawadipally. These plots present an excellent opportunity for investors to explore Hyderabad’s growing real estate market and its surrounding areas.
The plots are free from litigation and have good road connectivity. In addition, internal road and street light infrastructural works will be completed within 18 months. Choosing between investing in a plot or a flat can be daunting for homebuyers in Hyderabad. However, investing in a plot can offer several benefits that are worth considering, especially given the current trend of auctions of properties in Hyderabad.
Buying an open plot in and around the city assures buyers of an exclusive, independent lifestyle and complete land ownership. Unlike flats, plots offer a private and more spacious living environment without sharing land space with others.
Furthermore, owning a plot gives buyers the freedom to design and construct their dream home according to their personal preferences, including a backyard and ample parking space. Additionally, plots tend to appreciate more than flats, providing a more considerable resale value in the long run.
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