Telangana Hyderabad Mokila layout - No Initial Deposit and HMDA Bans Bidders
Out of 50 plots that were recently successfully e-auctioned, the hyderabad Metropolitan Development Authority (HMDA) reported on monday that the bidders of plot numbers 241, 242, 263, 273, 282, 283, 284, 312, 313, and 322 failed to pay the Initial Deposit (25%) amount despite being given enough time.
According to a press statement from hmda, cancellation letters have been sent to the aforementioned plots as a consequence of non-payment, forfeiting the EMD (Earnest Money Deposits) sums, and these defaulters will not be permitted to participate in subsequent auctions. The hmda has also issued a warning that any bidders who do not pay the Initial Deposit/First Installment amounts will be placed on a block list and will not be permitted to bid in subsequent auctions.
The chosen bids must pay the payments in accordance with the payment schedule outlined in the requirements of the brochure. Otherwise, the appropriate steps to cancel the allocation and forfeit the EMD will be conducted in accordance with the terms of the brochure, and no relaxation or extension will be granted under any circumstances. hmda has put a total of 60 open plots to e-auction on online bidding process through MSTC for plots ranging from 300 square yards to 500 square yards
According to a press statement from hmda, cancellation letters have been sent to the aforementioned plots as a consequence of non-payment, forfeiting the EMD (Earnest Money Deposits) sums, and these defaulters will not be permitted to participate in subsequent auctions. The hmda has also issued a warning that any bidders who do not pay the Initial Deposit/First Installment amounts will be placed on a block list and will not be permitted to bid in subsequent auctions.
The chosen bids must pay the payments in accordance with the payment schedule outlined in the requirements of the brochure. Otherwise, the appropriate steps to cancel the allocation and forfeit the EMD will be conducted in accordance with the terms of the brochure, and no relaxation or extension will be granted under any circumstances. hmda has put a total of 60 open plots to e-auction on online bidding process through MSTC for plots ranging from 300 square yards to 500 square yards