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Hyderabad Metropolitan Development Authority rakes in Rs 80 cr in land auction on first day
Hyderabad Metropolitan Development Authority
- The total revenue received through auction for the above plots was Rs 80.65 crores, which was more than double of the base price
- In total 50 plots with an extent of 13,635.11 Sq.yds were auctioned
- The highest price received was Rs 68,000 per sq.yd. The upset price fixed was Rs 25000 per sq.yd whereas the average bid price per sq.yd was Rs 59,149 which was 135 per cent increase over the upset price
Hyderabad: The Hyderabad Metropolitan Development Authority received a revenue of Rs 80 crore in the first day auction of landsunder the Medchal-Malkajgiri district on Thursday. According to the HMDA officials, the auction saw enthusiastic participation by the bidders. The HMDA conducted Phase I e-auction of open plots pertaining to Bachupally village, Medchal-Malkajgiri district in two sessions on March 2 through Central government agency MSTC.
The officials said that the total 50 plots with an extent of 13,635.11 Sq.yds were auctioned. The total upset price value for the above plots was Rs 34.09 crores. The total revenue received through auction for the above plots was Rs 80.65 crores, which was more than double of the base price.
The highest price received was Rs 68,000 per sq.yd. The upset price fixed was Rs 25000 per sq.yd whereas the average bid price per sq.yd was Rs 59,149 which was 135 per cent increase over the upset price.
In the Medchal district, during the morning session, 25 plots were auctioned with an area of 6968.36 sq yards. While the upset price value was Rs 17.42 Crore, the total revenue was Rs 40.64 Crore. During the afternoon session, 25 plots with an area of 13,635.11 sq yards.
While the upset price value was Rs 16.67 Crore, the revenue received was Rs 80.65 Crore. The officials said that 23 plots of Bachupally would be auctioned on Friday at 11 am.
