Day two of HMDA e-auction generates Rs 35.71 crore revenue

The e-auction of 23 plots in Bachupally, Medchal Malkajgiri district, on Friday witnessed enthusiastic participation of bidders

Hyderabad: The e-auction of 23 plots in Bachupally, Medchal Malkajgiri district, on Friday witnessed enthusiastic participation of bidders and promising a revenue of Rs 35.71 crore.

The Hyderabad Metropolitan Development Authority (HMDA) had put for auction these plots measuring 6,133.41 square yards in Phase-1.

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While the upset price fixed was Rs 25,000 per square yard, the average bid price was Rs 58,861 per square yard which is a 135 per cent increase over the upset price.

During the two day auction held on Thursday and Friday, 73 plots measuring 19,768.52 square yards were auctioned promising a revenue of Rs 116.36 crore.