The hyderabad Metropolitan Development Authority (HMDA) received around Rs 122.42 crore, or more than two times the base value, from the e-auction of plots at Mokila Layout on Wednesday, which reached a high of Rs 1 lakh per square yard.

The hmda has put a total of 60 open plots up for e-auction on an online bidding procedure through MSTC for plots ranging from 300 square yards to 500 square yards, proposing a residential layout in an area of 165 acres in Mokila village, 2 km from the Narsingi-Shankerpally road. Today's two e-auction sessions covered a total of 20,025 square yards.

The price that caused the uproar was Rs 25,000 per square yard, with a total expected estimated value of the saleable area at the price that caused the uproar being Rs 50.07 crore. Due to the e-auction's proximity to highly developed districts like Neopolis, the Financial District, Narsingi, etc., there was an overwhelmingly positive reaction. With a high value of Rs 1 lakh per square yard and a low value of Rs 54,000 per square yard, the average weighted price was Rs 63,512 per square yards, or more than two times the base upset price.
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SIBY JEYYA

24/08/2023 07:15 AM