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Uppal Bhagayath auctions fetch Rs 141 cr on day 1

Hyderabad: The first day of the e-auction of plots in the Uppal Bhagayath Layout received a positive response generating Rs 141.61 crore, and indicating the city’s growth in all four directions. The auction of 44 developed plots spread over 1,35,408 square yards located in the eastern part of the city was held by the Hyderabad […]

By Telangana Today

Updated On - 3 December 2021, 12:50 AM

Uppal Bhagayath auctions fetch Rs 141 cr on day 1

Hyderabad: The first day of the e-auction of plots in the Uppal Bhagayath Layout received a positive response generating Rs 141.61 crore, and indicating the city’s growth in all four directions.

The auction of 44 developed plots spread over 1,35,408 square yards located in the eastern part of the city was held by the Hyderabad Metropolitan Development Authority(HMDA) on the online platform managed by Union government enterprise MSTC Limited. While the minimum upset price was Rs 35,000 per square yard the highest bid was Rs 1.01 lakh per square yard and the lowest was Rs 53,000 per square yard. The average bid price stood at Rs 71,815.51 per square yard. The size of the plots auctioned varied from 150 sq. yards to 1,787 sq yards.

Out of the 44 plots, while 23 plots measuring 19,719 sq. yards went under the hammer on Thursday, the remaining will be auctioned on Friday.

After the auction was successfully executed on the first day, Special Chief Secretary, Municipal Administration and Urban Development (MA&UD), Arvind Kumar Tweeted that Rs 141. 61 crore was generated. “Uppal Bagayath e-auction of plots – day 1 23 plots (sized 150 – 1787 totalling 19719sq.yds) As against upset price of Rs 35k, maximum @ Rs 1,01,000 / & lowest @ Rs 53,000 / &average bid realised @ Rs.71,815.5/- per sq.yds Total Rs 141.61 cr. @KTRTRS,” he tweeted.

Out of the 44 plots that went for e-auction, 21 are residential, two marked for hospitals, four for shopping-cum-entertainment, two for educational institutions and 15 for multipurpose use. All the plots are in close proximity of Nagole Metro Station developed with amenities including stormwater and underground sewerage system. Other amenities include water supply, the underground electrical distribution network for power supply, central medians, street lighting and lush greenery.