HMDA garners ₹101.51 crore from auctions
The Hyderabad Metropolitan Development Authority (HMDA) generated ₹101.51 crore through an e-auction of residential plots in Mokila and Bachupally. The auction saw strong participation from investors, with high bids reflecting significant demand for real estate in the region.
Why it matters
The revenue generated indicates robust economic activity and high demand in the Hyderabad real estate market.
The e-auction of residential plots in the Mokila and Bachupally layouts developed by the Hyderabad Metropolitan Development Authority (HMDA) fetched approximately ₹101.51 crore with 57 of the 70 plots put up for auction being sold on Wednesday. In the Mokila layout, 32 plots were sold, with the highest bid touching ₹87,500 per square yard. The average auction price stood at ₹63,511 per square yard, generating about ₹66.48 crore in revenue. In the Bachupally layout, 25 plots were sold. The highest bid was ₹67,500 per square yard, while the average auction price was ₹51,991 per square yard. The auction fetched about ₹35.03 crore from the layout.
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