HMDA earns Rs 120 crore from Medipally Layout e-auction

HMDA generated around Rs 120 crore through the Phase III e-auction of residential plots in Medipally Layout. Sixty-three of the 68 plots on offer were sold, with the highest bid touching Rs 80,000 per square yard amid strong buyer interest

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) earned approximately Rs 120 crore in revenue through the Phase III e-auction of residential plots in its Medipally Layout, a press release said on Wednesday.

HMDA conducted the e-auction of 68 residential plots in the Medipally Layout, which received a good response from homebuyers and investors, it said.

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Of the 68 plots, 63 were auctioned. The highest bid reached Rs 80,000 per square yard, while the average bid rate stood at Rs 56,260 per square yard.

The auction witnessed significant participation from bidders across Hyderabad and surrounding regions, reflecting strong market confidence in HMDA-developed layouts and growing demand for well-planned residential developments, according to the press release.