Hyderabad: Madhapur has risen in real estate valuation to be the most expensive area in Hyderabad, with one square yard being auctioned for a whopping Rs 1.52 lakh, which is the highest in the city, and thus overtaken from Kokapet, which bagged the honours last year.
Officials said the plots are spread across 25 layouts in both upmarket areas including Jubilee Hills, Madhapur, Shaikpet, Nallagandla, Tellapur, Gopanpally and Miyapur as well as outskirts like Ameenpur, Ghatkesar, Pocharam and Bhongiri.
With the auction, plots are set to rise in price range and would be between 3,000 per square yard to Rs 80,000 per sq yard depending on location, size and usage. Price has been finalised at one-and-half times the basic value of registration department. HMDA authorities said of the 229 plots, 146 are in the HMDA developed layouts.
The rest are layouts developed by private firms which were transferred to the authority by way of gift deed (3% of entire layout as per norms). The highest number of plots were in Miyapur (48), followed by Ameenpur (22), Saroornagar (19), Mylardev Pally (18), Bachupally (15) and Tellapur (15). The total extent of the plots os about 1.22 lakh sq yards. The e-auction will end tomorrow....