The Hyderabad Metropolitan Development Authority (HMDA) earned a total of Rs 713.39 crore from the e-Auction of residential plots in Mokila village near Shankarpally. The phase-II of the auction concluded on Tuesday and generated a revenue of Rs 595 crore.
In total, 346 plots measuring 113,325 square yards were e-auctioned in two phases over a period of 6 days. The average price per square yard was Rs 63,216. The plots available for auction were of various sizes ranging from 240 to 500 square yards.
During the phase-II auction, 300 plots measuring 98,975 square yards were auctioned in the past five days. On the last day, the auction generated a revenue of Rs 102.73 crore. The highest bid was Rs 64,000 and the lowest bid was Rs 49,000. The overall weighted average price during phase-II was Rs 60,575. In comparison, during phase-I, the weighted average price was Rs 80,397.
Phase-I of the auction took place on August 7 and earned a revenue of Rs 121.40 crore from the sale of 50 plots measuring 15,800 square yards.
During phase-II, a total of 60 plots were sold through e-Auction. The first three days of the auction saw a good response, with the HMDA earning more than Rs 120 crore on average between August 25 and 27.
