50 plots fetch over Rs 80.65 crore in land auction: HDMA

Hyderabad: The HMDA garnered Rs 80.65 crore via auctioning 50 plots in Bachupally, Medchal Malkajgiri district on Thursday.

The HMDA had put for auction these plots measuring 13,635.11 square yards in Phase-1. While the total upset price value was Rs 34.09 crores, the auction saw the bidding reach Rs 80.65 crore, more than double. The highest price received was Rs 68,000 per square yard.

While the upset price was Rs 25,000 per square yard, the average bid price was Rs 59,149 which is a 135 per cent increase. Another 23 plots located in Bachupally will be auctioned on Friday, said HMDA in a press release.