The Hyderabad Metropolitan Development Authority (HMDA) netted Rs 122 crore on the first day of Mokila phase 2 land auctions on Wednesday.
While the HMDA put 300 plots for auction in the second phase, 60 plots were auctioned on Wednesday. While the highest bid amount was Rs 1 lakh per square yard, the lowest was Rs 54,000 per sq yard.
The average bid amount was pegged at Rs 63,512 per sq yard. The auctions will be conducted for four more days — August 24, 25, 28 and 29 — said officials. In the earlier auction held in Mokila a couple of weeks ago, the government earned Rs 1.05 lakh per sq yard in a plot.
In Wednesday’s bid, the plots were sized between 300 and 500 sq yards. While the upset price remained Rs 25,000 per sq yard even this time, minimum increase during bidding jumped to Rs 1,000 in phase 2 from the earlier Rs 500.