HYDERABAD: Five large size commercial plots measuring over 50,400 square yards went unsold in the Uppal Bhagayat layout on Friday. Of the 21 plots that were put up for e-auction on the second day, 16 plots have been auctioned (65,247 sq yds) fetching the Hyderabad Metropolitan Development (HMDA) revenues to the tune of Rs 333 crore.
Overall, on both days of the combined e-auction, 39 out of 44 plots were auctioned and the total revenue generated is Rs 474.61 crore. HMDA took up the e-auctioning of 44 developed plots spread over 1,35,408 square yards in the Uppal Bhagayat layout (The Hub of Life @ East City). On Friday, 21 plots were put for e-auction, of them, 16 plots (65,247 sq.yds) were e-auctioned by HMDA through MSTC Limited, a Union government enterprise.
The highest bid went for Rs 72,000 per sq yd and lowest bid was Rs 36,000 sq yd. On Thursday, 23 small to medium size plots spread over 19,719 sq yds fetched Rs 141.65 crore. HMDA officials told Express that five large commercial plots spread over 50,000 sq yds which were put up in the last part of the auction, remained unsold. They will look into the reasons for not finding the bidders for commercial plots.
The HMDA might even reduce the size of commercial plots into smaller ones so that there are more takers. In the first session, Rs 229.45 crore was collected and in the second session Rs 103.54 crore was raised amounting to Rs 333 crore.