Saturday, July 22, 2006
Huda bid draws mild response
Hyderabad, July 21: The second day of Huda’s auctions, this time of housing and shop plots, drew a comparatively smaller response on Friday. These plots were left over from earlier auctions. There were no takers for three plots in Nandagiri Hills, where a plot was sold at Rs 85,000 a square yard in February this year. Also not taken were a couple of plots in Asifnagar and one in Banjara Hills Road No. 10. Several bidders said Huda’s upset price was too high.
Nevertheless, Huda raised Rs 72.87 crore by the end of the day, auctioning 49 of the 56 plots on offer. Nine of the plots were located in Huda layouts at Nandagiri Hills, Chitra (one), Huda Trade Centre Ramachandrapuram (one), Nallagandla residential complex (five), Ramachandrapuram Ring Town (two), Huda Techno Enclave Madhapur (one) and Miyapur residential complex (31 plots).
Huda secretary and auction officer P. Venkatram Reddy expressed satisfaction with the response. “It was good keeping in view that these were leftover plots,” he said. Huda has earned about Rs 1,400 crores from February this year from auction of lands at Banjara and Jubilee Hills, Kokapet and other areas. The upset price for Nandagiri Hills plots was Rs 45,000 per square yard, Rs 50,000 for Banjara Hills and Rs 45,000 a square yard for Asifnagar plots. The highest bid amount for a Nandagiri Hills plot was Rs 65,000 per square yard. The minimum bid was Rs 46,000 per sq yard.
The lone plot in Chitra layout was auctioned for Rs 41,000 per sq yard (upset price Rs 40,000), the Trade Centre Ramachandrapuram plot for Rs 13,000 (Rs 12,500). In Ramachandrapuram Ring Town the maximum bid was Rs 15,500 against an upset price of Rs 6,000. In Nallagandla residential complex, the highest bid amount was Rs 17,600 and minimum Rs 10,000 per square yard against upset price of Rs 10,500.
For the plots in Miyapur residential complex, the maximum bid was Rs 30,500 and minimum Rs 10,500 against upset price of Rs 10,000. Most of the 31 plots were sold between Rs 10,500 and Rs 12,500 per square yard. The lone plot in Huda Techno Enclave got a single bid for Rs 55,000 per square yard against an offset price Rs 25,000.
Nevertheless, Huda raised Rs 72.87 crore by the end of the day, auctioning 49 of the 56 plots on offer. Nine of the plots were located in Huda layouts at Nandagiri Hills, Chitra (one), Huda Trade Centre Ramachandrapuram (one), Nallagandla residential complex (five), Ramachandrapuram Ring Town (two), Huda Techno Enclave Madhapur (one) and Miyapur residential complex (31 plots).
Huda secretary and auction officer P. Venkatram Reddy expressed satisfaction with the response. “It was good keeping in view that these were leftover plots,” he said. Huda has earned about Rs 1,400 crores from February this year from auction of lands at Banjara and Jubilee Hills, Kokapet and other areas. The upset price for Nandagiri Hills plots was Rs 45,000 per square yard, Rs 50,000 for Banjara Hills and Rs 45,000 a square yard for Asifnagar plots. The highest bid amount for a Nandagiri Hills plot was Rs 65,000 per square yard. The minimum bid was Rs 46,000 per sq yard.
The lone plot in Chitra layout was auctioned for Rs 41,000 per sq yard (upset price Rs 40,000), the Trade Centre Ramachandrapuram plot for Rs 13,000 (Rs 12,500). In Ramachandrapuram Ring Town the maximum bid was Rs 15,500 against an upset price of Rs 6,000. In Nallagandla residential complex, the highest bid amount was Rs 17,600 and minimum Rs 10,000 per square yard against upset price of Rs 10,500.
For the plots in Miyapur residential complex, the maximum bid was Rs 30,500 and minimum Rs 10,500 against upset price of Rs 10,000. Most of the 31 plots were sold between Rs 10,500 and Rs 12,500 per square yard. The lone plot in Huda Techno Enclave got a single bid for Rs 55,000 per square yard against an offset price Rs 25,000.
# posted by mashup @ 10:44 AM 
