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Photo: P.V. Sivakumar

Up for grabs: Large tracts of prime land, like this one on the Miyapur-Kukatpally Road will see properties emerging over the years. -

The market watchers say that the slump still continues and the number of participants at auctions continues to remain low. The bids most of the time either match the upset prices or just above the upset price and it is certainly not an indication of the boom time, they add.

But it is a different issue that the land prices continue to remain out of reach of common people and buying an individual plot in a developed area even in the outskirts remains an unattainable dream for many. The apartment prices too for a variety of reasons including new building regulations, are ruling high.

So there is no justification to believe that the recent auctions of APHB or APIIC or for that matter the HUDA auction of 100 acres of Kokapet lined up for December 18, would fuel the real estate prices once again.

Agreeing with the notion, HUDA Vice-Chairman Jayesh Ranjan said that both in the APHB and APIIC auctions, either a single agency or two to three bidders alone participated. Moreover, they were all national players from outside the State who made a foray into Hyderabad real estate market. Even in the case of HUDA’s Pentagon project at Miyapur, it went as a single bid.

The HUDA has set the upset price for its forthcoming auction of 100 acres at Kokapet for the Calibre SEZ for the IT sector at Rs.12 crore per acre. The auction would be for four plots, each measuring 25 acres to attract more players and competition rather than offering the whole 100 acre plot as a single bid, he said.

It may be mentioned that the latest APHB auction at Hydernagar on way to Chandanagar, BHEL fetched Rs.15 crores per acre and earlier the APIIC auctions got Rs.21 crores and Rs.22.2 crores against the upset price of Rs.20 crores per acre. HUDA officials feel the Rs.12 crore per acre upset price for the Calibre SEZ is in tune with market trends. However, because of the strategic location of the Kokapet close to Outer ring Road and good connectivity to Manikonda financial district, IT hub and Gandipet and with the High Court judgement going in favour of HUDA regarding a title dispute over its earlier Golden Mile project at Kokapet, HUDA officials expect good response to the auction irrespective of the continuing slump in the real estate market.

With the auctions now mostly getting confined to major players outside the State and city, individuals looking for house sites would now have to wait for the new integrated townships proposed by the HUDA along the Outer Ring Road or alternatively look for approved layouts from the real estate developers for the safety of their investments.

With most of the large scale residential and multipurpose projects being developed in the Private Public Partnership, the Government of India is also contemplating to make it mandatory for earmarking a part of these projects to the LIG and MIG categories to make the projects inclusive. The Union Government as part of the JNNURM programme will issue these guidelines says Mr. Ranjan though in the HADA limits, such a stipulation to allot 5 per cent of layout area and 10 per cent of built up area was already introduced by the HUDA. This allocation is for the benefit of Economically Weaker Sections and Low Income Group families. In the Integrated Townships coming up at Tellapur and Srinagar, HUDA already decided to allot 25 per cent built up area for EWS, LIG and MIG categories.

However, the requirement of MIG families would be exclusively met under Rajiv Swagruha scheme and a separate body, AP Rajiv Swagruha Corporation headed by an IAS officer was created with the sole agenda of providing MIG housing throughout the State including the twin cities, Mr. Ranjan said.

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