Hyderabad: HMDA earns over Rs 88 cr in sale of plots

Hyderabad: The HMDA earned a revenue of over Rs 88 crore by the sale of land in the e-auction conducted for the land parcels in Medipally village, in Medchal-Malkajgiri district, on Monday.

Under the phase I e-auction of open plots in Medipallly in two sessions through MSTC, a total of 50 plots with an extent of 15,000 sq.yds were auctioned.

The total upset price value for the plots was Rs 48 crore. The total revenue received through auction for the plots was Rs 88.1 crores.

The highest price received was Rs 63,000 per sq.yard. The upset price fixed was Rs 32,000/sq yard, whereas the average bid price per sq.yd was Rs. 58,730.

During the morning session, 25 plots measuring 7,500 sq yards were taken. The price value was Rs 24 crore and the HMDA got Rs 44.24 crore. In the afternoon session, 25 plots, with an area of 7,500 sq yards, were auctioned with an upset value of Rs 24 crore; the HMD received Rs 43.86 crore.