Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) on Wednesday, June 24, conducted the Phase III e-auction of residential plots in its Medipally layout, with 63 of the 68 plots on offer finding buyers and total revenue touching approximately Rs 120 crore.
The highest bid received during the auction was Rs 80,000 per square yard, with the average bid rate settling at Rs 56,260 per square yard. Several plots drew multiple bids, reflecting strong interest from homebuyers and investors in Hyderabad and surrounding areas.
HMDA said the auction response pointed to sustained market confidence in its developed layouts and growing demand for planned residential developments in the eastern growth corridor of the city.
The authority added that the successful auction was expected to accelerate further development and investment in the Medipally area.
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