Prospective buyers of plots in Mokila layout phase-II in Shankarpally mandal of Rangareddy recently attended a meeting to learn about the registration and bidding process. The meeting was held by HMDA, and the auction will take place on the e-auction platform of MSTC Limited. The auction will be held from August 23 to 29.
During the meeting, a representative from MSTC, K Anuraag, gave a presentation explaining the auction process and answered questions from participants. He highlighted that the entire bidding process would take five days, with 60 plots going up for bidding each day.
In total, there are 300 plots available for auction in phase II of the Mokila layout. The last date for registration is August 21. The starting price for the e-auction is Rs 25,000 per square yard, with an increment of Rs 1,000 per square yard during bidding. A deposit of Rs 1 lakh is required to participate in the e-auction.
Officials reported that there was a strong response to the pre-bid meeting held near the site. HMDA is developing a residential layout with a total of 1321 plots in 165 acres of land, and 300 plots are being auctioned as part of phase-II.
The meeting was attended by several officials, including HMDA secretary P Chandraiah and chief information officer S K Meera.
