HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) generated around Rs 120 crore through the Phase-III e-auction of residential plots in its Medipally Layout on Wednesday.
Of the 68 plots offered, 63 were successfully auctioned. The highest bid touched Rs 80,000 per square yard, while the average bid stood at Rs56,260 per square yard. Several plots witnessed competitive bidding, with multiple participants vying for the same properties.
Officials said the auction attracted bidders from Hyderabad and surrounding regions, underscoring growing confidence in HMDA-developed layouts and planned residential projects.
The plots, located in Medipally in Medchal-Malkajgiri district, range from 231 sq yd to 643 sq yd. HMDA had fixed an upset price of Rs 45,000 per sq yd, with bid increments of Rs 500 per sq yd or multiples thereof. Officials said the layout is planned with full infrastructure and designed to cater to all sections of society.
The auction was conducted through MSTC Limited, a Government of India enterprise. Successful bidders must pay 25% of the sale value, excluding the EMD, within seven days of receiving the letter of offer. The balance amount, including the EMD, must be paid within 60 days.
Next auction on June 29
Meanwhile, HMDA will conduct an e-auction of 100 developed plots in its Mokila Layout at Shankarpally on June 29 and 30. The plots, ranging from 300 sq yd to 500 sq yd, carry an upset price of Rs 50,000 per sq yd, with bid increments of `500 per sq yd or multiples thereof.
