The e-Auction of Mokila Layout phase-II in Hyderabad has earned Rs 122.42 crore for HMDA on the first day. A total of 60 open plots were put up for e-Auction on the Central government’s e-action platform MSTC Limited.
The plots ranged from 300 square yards to 500 square yards, with a total area of 20,025 square yards. HMDA has proposed a Residential Layout in an area of 165 Acres at a distance of 2 km from the Narsingi-Shankerpally road in Mokila village, Shankerpally Mandal, RR District.
The upset price for the e-Auction was Rs 25,000 per square yard, with bidding multiples of Rs 1,000 per square yard. The total anticipated estimated value of the saleable area as per the upset price is Rs 50.07 crores.
According to officials, there has been an overwhelming response to the e-Auction due to its proximity to developed areas such as Neopolis, Financial District, Narsingi, etc. The rates have reached a high of Rs 1 lakh per square yard. The total revenue received through the two sessions of e-Auction is Rs 122.42 crores, which is more than twice the base value. The average weighted price is Rs 63,512 per square yard, which is also more than twice the base upset price, with a high value of Rs 1 lakh per square yard and a low value of Rs 54,000 per square yard.
