The Hyderabad Metropolitan Development Authority (HMDA) conducted an e-auction for Mokila phase-II on Monday. They earned a revenue of Rs 105.16 crore by selling 60 plots, with an upset price of Rs 46.50 crore.
The plots with frontage were sold at prices ranging from Rs 70,000 per square yard to Rs 1,05,000 per square yard. However, during the auction, buyers placed bids as low as Rs 49,000 per square yard and as high as Rs 66,000 per square yard.
The total area sold was 18,600 square yards. In Mokila phase-II, a total of 300 plots are being auctioned, while in phase-I, 50 plots were sold. Despite the downward trend in revenue on the fourth day, higher officials reassured that the situation will improve.
Arvind Kumar, the secretary of Urban Infra and Development, shared on Twitter that at least five of the top 10 skyscrapers in Hyderabad will be built in Neopolis/Kokapet. He mentioned that Hyderabad is ranked second after Mumbai in terms of high-rise buildings and is constantly reshaping its skyline.
