HMDA fetches Rs 122.42 cr on first day of e-Auction for Mokila Layout phase-II

Hyderabad: The e-Auction of Mokila Layout phase-II has fetched Rs 122.42 on the first day for HMDA. A total of 60 open plots were put to e-Auction on online bidding process through Central government’s e-action platform MSTC Limited.

The plots ranging from 300 syds to 500 syds and total area put to e-Auction on 2 sessions on Wednesday was 20,025 syds. HMDA has proposed a Residential Layout in an area of 165 Acres at 2 km from the Narsingi-Shankerpally road situated at Mokila village, Shankerpally Mandal, RR District as part of phase-II.

The upset price for the e-Auction was Rs 25,000 per sqyd with bidding multiples of Rs 1000 per syd and total anticipated estimated value of the sale-able area as per the upset price is Rs 50.07 crores.

“There is an overwhelming response in the e-Auction being close to the high developed areas such as Neopolis, Financial District, Narsingi, etc., the rates have touched a high of Rs 1 lakh per sqyd and total revenue received through the 2 sessions of e-Auction is Rs: 122.42 crores i.e. more than 2 times the base value. The average weighted price is Rs 63,512 per sayd i.e. more than 2 times the base upset price with an high value of Rs 1 lakh per sayd and low value of Rs 54,000 per sayd,” informed the officials.