Hyderabad: HMDA fetches Rs 122.42 crore in Mokila land auction

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) has fetched a revenue of Rs 122.42 crore in the e-auction of plots at Mokila Layout.

The amount generated is over two times higher than the base value while the bid touched Rs 1 lakh per square yard during the auction on Wednesday.

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The plots were proposed for residential layout in an area of 165 areas at Mokila village, 2 km from the Narsingi-Shankerpally road.

However, the total area put to e-auction in two sessions was 20,025 square yards.

HMDA has put up a total of 60 open plots to e-auction through MSTC. The plots range from 300 square yards to 500 square yards.

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

The authority received an overwhelming response as the e-auction was close to developing areas such as Neopolis, Financial District and Narsingi.