HMDA gets great response for its e-auction for Mokila Layout

By the end of two sessions of e-auction, the HMDA received revenue of Rs. 121.40 crore, which is more than three times the base value.

Hyderabad: The Hyderabad Metropolitan and Development Authority (HMDA) has received overwhelming response from investors in the e-auction of plots at Mokila layout, Shankerpally Mandal, Rangareddy district, which was taken-up on Monday.

By the end of two sessions of e-auction, the HMDA received revenue of Rs. 121.40 crore, which is more than three times the base value. The cost of per square yard in the e-auction of Mokila layout reached a high of Rs 1, 05, 000, a press release said.

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The average weighted price was Rs 80,397 per square yard, about three times the base upset price with an high value of Rs: 1, 05, 000 per square yard and low value of Rs 72,000 per square yard.

The Mokila layout is spread over an area of 165 acre, just two kilometres from Narsingi-Shankerpally road, and a total of 50 open plots were put up for auction. The size of the plots ranged from 300 square yards to 500 square yards and the total area that was put for auction on Monday was 15, 800 square yards.

The upset price set by the HMDA for the e-auction was Rs 25, 000 per square yard and the total anticipated value of saleable area based on upset price was Rs 40 crore, HMDA in a press release said, adding that due to positive response from investors, the auction of phase-II of Mokila layout will be taken up soon.