Sale of Uppal Bhagayath plots: State earns 141 cr on day 1 of e-auction

Hyderabad: The e-auction taken up by the Hyderabad Metropolitan Development Authority for Uppal Baghayath plots has fetched Rs 141.61 crore for the government on the first day on Thursday.

The e-auction was taken up by the MSTC India, a central public sector undertaking, which conducts the bidding process. The HMDA authorities had kept 23 plots for e-auction ranging from 150 sq. yards to 1,787 sq. yards totalling 19,719 sq. yards by fixing upset price of Rs 35,000 per square yard for all the plots. According to authorities, the maximum bid received was Rs 1,01,000 per sq yard and the lowest bid was Rs 53,000 per sq yard. The average bid per square yard was Rs 71,815.5. The authorities would keep 21 more plots for scheduled e-auction with an upset price of Rs 35,000.

Earlier in July, the State government had sold lands in Kokapet that fetched Rs 2,000.37 crore. The government had auctioned 49,951 acres of HMDA land at Kokapet.