Mokila plots touch Rs 1.09 lakh per sq yd in HMDA e-auction

All 100 plots sold in two-day auction; strong demand pushes average price to ₹75,640 per sq yd, generating ₹231 crore revenue

The Hyderabad Metropolitan Development Authority (HMDA), on behalf of the government, will oversee the rationalisation and simplification of the existing rules Representative image

HYDERABAD: Residential plots in the Hyderabad Metropolitan Development Authority's Mokila Phase-III layout fetched as much as Rs 1,09,500 per sq yd in a two-day e-auction, with all 100 plots being sold. The average bid stood at Rs 75,640 per sq yd, with several plots crossing the Rs 1 lakh mark. The auction generated about Rs 231.65 crore, with strong competition among bidders for the 300-500 sq yd plots. The online auction, conducted through MSTC Ltd, had an upset price of Rs 50,000 per sq yd.