HMDA fetches over Rs 700 cr from Mokila Phase II e-Auction

Hyderabad: A total of Rs 713.39 crore was fetched by HMDA from the e-auction of residential plots at Mokila village near Shankarpally in Ranga Reddy district. The phase II of the auction which concluded on Tuesday was able to generate Rs 595 crore in revenue.

Arvind Kumar, secretary Urban Infra and Development informed “Total of 346 plots measuring 1,13,325 sq yards were e-auctioned in two phases, spread over six days, realising Rs713.39 crore for 63216 / sq yards. #Mokila residential plots (240/300/450/500 sq yards)” via social media platform X.

A total of 300 plots measuring 98975 sq yds were auctioned during the past five days during phase II. On the last day, the auction generated a revenue of Rs 102.73 crore.

The highest bid was Rs 64,000, while the lowest was Rs 49,000. The overall weighted average was Rs 60,575 for phase II, which started on August 23 and concluded on Tuesday. In contrast, the phase-I weighted average was Rs 80,397 (Rs 1.05 lakh was the highest and Rs 72,000 was the lowest). While the phase-I which took place on August 07 fetched Rs 121.40 through the sale of 50 plots with an extent of 15800 sq yd.

During phase-II 60 plots were sold through e-auction. During the first three days, there was a good response and the HMDA was able to generate more than 120 crores on an average between August 25 and 27.