Hyderabad: E-auction of land parcels fetches HMDA Rs 195.24 cr

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) got a good response from the e-auction of land parcels, as the government got Rs 195.24 crore revenue from the nine land parcels in Ranga Reddy, Medchal-Malkajgiri and Sangareddy districts.

The e-auction taken up by the Central government's MSTC on Wednesday got a good response from the bidders. With the enthusiasm shown by the real estate businessmen, one square yard of land was sold at Rs 1.11 lakh in the auction. Officials said the notification for the second phase of auction would be released after three days.

According to the officials, in the morning session the three stray bits measuring 12,584 sq yards auctioned in Ranga Reddy fetched Rs 98.01 crore for an upset price value of Rs 82.76 crore. Similarly, for Medical-Malkajgiri four bits measuring 12,160 sq yards, the HMDA got RS 62.09 crore for a value of Rs 55.30 crore. In the afternoon session, two bits measuring 7,986 sq yards fetched 35.14 crore for an upset value of Rs 8.20 crore.