On August 10, 2023, the Hyderabad Metropolitan Development Authority (HMDA) will hold an e-auction for 14 vacant plots in Budwel, Telangana. The plots are priced at a minimum of Rs. 20 crore per acre, and prospective bidders must register by August 8, 2023. A pre-bid meeting is planned for August 6, 2023.
These plots are well-located, being only 15 minutes from both the Hyderabad Airport and the Financial District. Furthermore, they are near to the Neopolis plan.
The plots will be paid for in two installments. Following confirmation, the first payment, which must be at least 33 percent of the sale price (minus the Earnest Money Deposit), must be paid within seven days of the letter of offer’s issue. The second and final installment, which includes the remainder of the sale price (including the Earnest Money Deposit), is due within 30 days.
Prospective bidders can find additional information on the HMDA’s official website.
Another greenfield workstation / city comes up at #Budvel
14 plots totalling 100 acres are being auctioned on Aug 10
Registration now open
< 5 acre – 3 plots
5-8 acres – 9 plots
>10 acres- 2 plotsDetails available at https://t.co/hv4Fds1Pgm
Don't miss pic.twitter.com/uYVJ62xtBq
— Arvind Kumar (@arvindkumar_ias) August 4, 2023
The essay also contrasts the benefits and drawbacks of investing in open plots against flats in Hyderabad, specifically in the Budwel neighborhood:
- Open plots provide additional flexibility, allowing buyers to design and build their own home based on their preferences and style. Flats, on the other hand, provide fewer modification options.
- Higher Returns: Due to the restricted quantity of land, open plots tend to grow in value faster than apartments. Flats may endure wear and tear over time, potentially resulting in a decline in value.
- Financial aid: While financial aid for the purchase of flats is readily available, securing money for open plots may be more difficult due to the lower Loan-to-Value (LTV) ratio for plots than for flats
- Rental Income: Because income from plots can take time to materialize, flats are a better choice for earning rental money.
Individual tastes, financial goals, and the intended use of the property all influence whether to invest in open plots or flats. Prospective buyers should carefully evaluate these variables before making an investment decision.
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