HMDA, the Hyderabad Metropolitan Development Authority, has generated a total of Rs 713.39 crore from an e-auction of residential plots in Mokila village near Shankarpally. The auction was done in two phases, with the second phase bringing in Rs 595 crore in revenue.
In total, 346 plots measuring 1,13,325 sq yards were auctioned over six days, with each square yard fetching Rs 63216. The plots available were of sizes 240, 300, 450, and 500 sq yards.
During the second phase, 300 plots measuring 98975 sq yards were auctioned, generating a revenue of Rs 102.73 crore on the last day. The highest bid was Rs 64,000 and the lowest was Rs 49,000. The overall weighted average for phase II was Rs 60,575.
In comparison, the first phase of the auction had a weighted average of Rs 80,397. The highest bid in phase I was Rs 1.05 lakh and the lowest was Rs 72,000. In total, Rs 121.40 crore was generated from the sale of 50 plots measuring 15800 sq yards.
During the second phase, a total of 60 plots were sold through e-auction. The first three days of the auction saw a good response, with HMDA generating over Rs 120 crore on average between August 25 and 27.
