Hyderabad: Mokila Layout e-auction touches a high of Rs 1 lakh per square yard

HMDA has put a total of 60 open plots to e-auction on online bidding process through MSTC for plots ranging from 300 square yards to 500 square yards

Hyderabad: The e-auction of plots at Mokila Layout on Wednesday touched a high of Rs 1 lakh per square yard fetching the Hyderabad Metropolitan Development Authority (HMDA) around Rs 122.42 crore i.e., more than two times the base value.

Proposing a residential layout in an area of 165 ares at Mokila village, 2 km from the Narsingi-Shankerpally road, the HMDA has put a total of 60 open plots to e-auction on online bidding process through MSTC for plots ranging from 300 square yards to 500 square yards. The total area put to e-auction in two sessions today was 20,025 square yards.

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The upset price was Rs 25,000 per square yard and total anticipated estimated value of the saleable area as per the upset price, being Rs 50.07 crore.

There was an overwhelming response in the e-auction being close to the high developed areas such as Neopolis, Financial District, Narsingi etc. The average weighted price was Rs 63,512 per square yards i.e., more than two times the base upset price, with an high value of Rs 1 lakh per square yard and the low value of Rs 54,000 per square yard.