Overwhelming response to e-auction
PNS|Hyderabad
As anticipated there was an overwhelming response to the e-auction of Mokila Layout as it is close to areas like Neopolis, the Financial District, Narsingi, etc. The rates touched a high of Rs 1,05,000 per sq.yd. Plot Number 243 fetched the highest price of Rs 1 lakh. The total revenue received through the two sessions of the e-Auction is Rs 121.40 crore, that is, more than three times the base value.
The HMDA proposed a residential layout in an area of 165 acres 2 km from the Narsingi–Shankerpally Road at the Mokila village in the Shankerpally Mandal of Ranga Reddy district.
A total of 50 open plots were put to e-Auction through online bidding through M/s MSTC. The plots ranged in area from 300 sq.yd to 500 sq.yd and the total area put on e-Auction during the two sessions today is 15,800 sq.yd.
The upset price for the e-Auction was Rs 25,000 per sq.yd with bidding multiples of Rs 500 per sq.yd and the total anticipated estimated value of the saleable area as per the upset price is Rs 40 crore.
The average weighted price is Rs 80,397 per sq.yd, that is, three times the base upset price with an high value of Rs 1,05,000 per sq.yd and a low value of Rs 72,000 per sq.yd.
Encouraged by the response shown by bidders who participated in the e-Auction, the government is planning another auction very soon in Phase-II.
