e-Auction of Plots at Shabad Layout

The total revenue received through e-Auction of plots at Shabad layout by the HMDA on Tuesday was Rs 33.06 crore.

Hyderabad: The total revenue received through e-Auction of plots at Shabad layout by the Hyderabad Metropolitan Development Authority (HMDA) on Tuesday was Rs 33.06 crore i.e., more than two times the base value.

The HMDA has proposed a residential layout in an area of 100 acres at 2 km from the Shabad town/village Shabad Mandal, RR Dist.

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A total of 50 open plots were put to e-Auction on online bidding process through M/s MSTC with plots ranging from 300 sqyds and the total area put to e-auction on two sessions today was 15,000 sqyds.

The upset price for the e-Auction was Rs.10,000 per sqyd with bidding multiples of Rs.500 per sqyd and total anticipated estimated value of the saleable area as per the upset price was Rs.15 crores. The HMDA in a press release said the total revenue received through the two sessions of e-Auction was Rs. 33.06 crores i.e. more than two times the base value.

The average weighted price is Rs. 22,040 per sqyd i.e. 2 times the base upset price with an high value of Rs: 27,000 per sqyd and low value of Rs: 18,000 per sqyd.