The Hyderabad Metropolitan Development Authority (HMDA) has 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, which lasted for six days, generated a revenue of Rs 595 crore. In total, 346 plots measuring 113325 square yards were auctioned. The plots ranged from 240 to 500 square yards in size.
During the second phase of the auction, 300 plots measuring 98975 square yards were sold. On the last day of the auction, the revenue reached Rs 102.73 crore. The highest bid was Rs 64,000 and the lowest bid was Rs 49,000. The average price per square yard for phase-II was Rs 60,575, which is lower than the average price of Rs 80,397 in phase-I. Phase-I of the auction took place on August 7 and generated a revenue of Rs 121.40 crore from the sale of 50 plots.
During phase-II, a total of 60 plots were sold through e-Auction. The initial days of the auction saw a good response, with the HMDA earning over Rs 120 crore between August 25 and 27.