HMDA generates over Rs 700 cr from Mokila e-Auction Phase-II fetches Rs 595 cr

Hyderabad: A total of Rs 713.39 cr were fetched by HMDA from e-Auction of residential plots at Mokila village near Shankarpally in Ranga Reddy district. The phase-II of auction which concluded on Tuesday was able to generate Rs 595 crores revenue.

Arvind Kumar, secretary Urban Infra and Development informed “total of 346 plots measuring 113325 sq yards were e-auctioned in two phases, spread over 6 days, realising ₹713.39 crs @ ₹ 63216 / sq yards. #Mokila residential plots (240/300/450/500 sq yards)” via social media platform X.

A total of 300 plots measuring 98975 sq yds were auctioned during the past five days during phase-II. On the last day the auction generated a revenue of Rs 102.73 cr. The highest bid was Rs 64,000, while the lowest was Rs 49,000. Overall weighted average was Rs 60,575 for phase-II, which started on August 23 and concluded on Tuesday. In contrast, the phase-I weighted average was Rs 80,397 (Rs 1.05 lakh was the highest and Rs 72,000 was the lowest). While the phase-I which took place on August 7 fetched Rs 121.40 through sale of 50 plots with an extent of 15800 sq yd.

During phase-II 60 plots were sold through e-Auction. During the first three days there was good response and the HMDA was able to generate more than 120 crores on an average between August 25 and 27.