Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) generated a revenue of Rs 80 crore on day one of the e-auction of 50 plots in Bachupally, Medchal Malkajgiri district, on Thursday.
HMDA held the auction of open plots measuring 13,635.11 square yards in Phase-1 through the Central government agency, MSTC.
While the total upset price value for these plots was set at Rs 34.09 crore, the auction saw enthusiastic participation with the bid reaching up to Rs 80.65 crore, which is more than double the base price.
“The highest price received was Rs 68,000 per square yard,” said the officials.
While the upset price fixed was Rs 25,000 per square yard, the average bid price was Rs 59149 per square yard which is a 135 percent increase over the upset price.
Another 23 plots located in Bachupally will be auctioned on Friday, informed HMDA in a press release.
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