Hyderabad: The e-auction of 44 developed plots in the Uppal Bhagayath Layout thatconcluded on Friday, generated a positive response garnering Rs 474.61 crore for the State government. Of the 44 plots that went for e-auction, bids were made for 39 plots.
In the two-day auction, the maximum bid received was Rs.1.01 lakh per sq.yard and the lowest bid was Rs.36,000 per sq.yard. While the minimum upset price was Rs.35,000 per sq.yard the average bid price for the total area was Rs 55,859 per sq.yard.
The auction of plots located in the eastern part of the city was held by the Hyderabad Metropolitan Development Authority (HMDA). The 16 plots spread over 65,247 sq.yards that went under the hammer on Friday generated Rs 333 crore. The size of plots varied from 1,980 sq.yards to 11,277 sq.yards. The maximum bid received today was Rs.72,000 per sq.yard and the lowest bid was Rs.36,000 per sq. yard with an average bid price of Rs.51,037 per sq.yard.
The plots auctioned which have good transport facilities are in close proximity of Nagole Metro Station, abutting Uppal and the LB Nagar Inner Ring Road.
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