Saturday, 31 October 2015

Telangana: Upset price fixed for auction of 20 land parcels
Times of India, Hyderabad, 31st October, 2015

HYDERABAD: The Telangana government has approved the upset prices for 20 land parcels that would be put for public open auction in Hyderabad and Ranga Reddy districts soon. The government also gave consent to appoint M/s MSTC as service provider for the e-auction.

According to a GO issued by the revenue department, the chairman and MD of Telangana State Industrial Infrastructure Corporation (TSIIC) was permitted to appoint the MSTC as service provider for land auction. For conducting e-auctions, the agency would be paid service charges 0.5% of the sale proceeds or Rs 75 lakh whichever is less.

It may be recalled the state government last month gave order allowing the Hyderabad and RR district collectors to auction government land parcels. While 17 land parcels were identified in Ranga Reddy, 10 were identified in Hyderabad. The TSIIC proposed upset price for 10 land parcels in Hyderabad and 10 land parcels in Ranga Reddy district based on basic value, prevailing market value and as assessed in the market by the TSIIC.

The TSIIC earlier informed the government that M/s MSTC had executed an Memorandum of Understanding (MoU) with Information Technology, Electronics and Communication department for providing e-auction cum e-tender service to the state government departments and requested to accord permission for appointment of M/s MSTC as service provider for sale of land parcels through e-auction and to accord approval to the upset price and bid conditions.

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