Hyderabad: Hyderabad’s real estate market continued to witness strong demand as residential plot prices at the Hyderabad Metropolitan Development Authority (HMDA) layout in Mokila reached record Rs 1.09 lakh per square yard.
In Shankarpally mandal of Rangareddy district, HMDA auctioned 100 residential plots at its Mokila layout. On the first day, fifty plots were auctioned and the remaining 50 on the second day.
Rs 50,000 was the base price
The plots were auctioned with a base price of Rs 50,000 per square yard. On the first day, the highest successful bid reached Rs 1 lakh per square yard. On the second day, the top bid touched Rs 1,09,500 per square yard.
The lowest successful bid on the second day was Rs 66,500 per square yard. The average price realised across all 100 plots was Rs 75,640 per square yard.
The auction generated a total revenue of Rs 231.65 crore for HMDA.
Mokila’s strategic location
Mokila’s strategic location in Hyderabad’s fast-developing western corridor is the reason for the strong bidding. It is a preferred choice for both homebuyers and investors.
Apart from Mokila, HMDA also witnessed strong demand for plots at its Medipally layout in the eastern part of Hyderabad. The highest bid there reached Rs 80,000 per square yard against a base price of Rs 45,000 per square yard.
