Hyderabad: HMDA officials decided to sell plots in Uppal – Bhagath layout of 25,963 yards. They are expecting Rs. 700 Cr on this real estate business.
Hyderabad Metropolitan Development Authority (HMDA) planned seriously to sell plots in Uppal – Bhagath layout. The officers aimed to earn Rs.700 Cr on real estate with 1, 25,963 yards of place. Current area fetches them Rs.250 Cr and later 182 acres are expected to bring Rs.450 Cr sale.
HMDA designed the plots layout from Ramanthapur – Amberpet to Uppal (total 4 kilometers). In addition, Musi River also expected to be a part of development. As a result, plot cost may go high; currently it is Rs.17000 for one yard. If Musi River is developed, the cost of each plot will be doubled. Metro train project and inner ring road is nearer to HMDA layouts, hence the plot value expected to be high.
Plots designed with all facilities
HMDA planned Uppal- Bhagath layout with all facilities like roads, drinking water, drainage, underground power, over head water tanks and empty place for parks. In 2005, Govt collected 758 acres for Musi development and gardening. HMDA planned 413 acres in this layout according to the river development.
Uppal – Bhagath layout is pending since 12 years and HMDA distributed 1324 plots for 825 members with lottery. Govt granted permission to sell remaining plots in this month. Actually HMDA designed Uppal for multipurpose like living homes and also business.
The layouts are present at both sides of Uppal metro depot, Nagole metro station and inner ring road. Hence, the chance of development is high and declared it as multi zone. Govt also planned to start IT companies in Uppal so that people living here will get livelihood.