Hyderabad: Mokila Layout e-auction raises Rs 716.39 crore

The e-auction of Mokila residential plots, which generated revenue of Rs 716.39 crore, is a record of sorts, as authorities had set only Rs 286.95 crore as the total offset price for all the 346 residential plots.

Hyderabad: The e-auction of Mokila residential plots located near Narsingi-Shankarpally road concluded on Tuesday with Hyderabad Metropolitan Development Authority (HMDA) realizing a record Rs 716.39 crore for 346 plots at an average of Rs. 63, 216 per square yard.

Overall, a total of 346 residential plots of various sizes including 240/300/450 and 500 square yards, were sold-out in the e-auction, which was conducted in two phases on August 7 (first phase) and August 23, 24, 25, 28 and 29 (second phase).

---

The e-auction of Mokila residential plots, which generated revenue of Rs 716.39 crore, is a record of sorts, as authorities had set only Rs 286.95 crore as the total offset price for all the 346 residential plots.

The first phase of e-auction was conducted on August 7, raising revenue of Rs 121.40 crore for 48 plots, measuring a total of 1, 51, 00 square yards at an average of Rs. 80, 397 per square yard.

Between August 23 and 29 (five working days), a total of 298 residential plots were auctioned that raised a revenue of Rs 595 crore for a total of 98, 225 square yards with an average of Rs. 60, 575 core each square yard.