Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) on Tuesday received Rs 33.06 crore as revenue through the e-Auction of plots at the Shabad layout.
The amount generated was more than two times its base value.
The HMDA had proposed a residential layout in an area of 100 acres, 2 km from the Shabad town in Ranga Reddy district.
During the online bidding process, a total of 50 open plots were put to e-Auction through M/s MSTC.
While the plots ranged from 300 sq yards, the total area put to e-auction on two sessions was 15,000 sq yards.
The upset price for the e-Auction was Rs 10,000 per sq yard with bidding multiples of Rs 500 per sq yard.
Also, the total anticipated estimated value of the saleable area as per the upset price was Rs 15 crores.
“The total revenue received through the two sessions of e-Auction was Rs. 33.06 crores i.e. more than two times the base value,” said a press release from HMDA.
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