Hyderabad: Uppal Bhagayat lands fetch Rs 141 crore on 1st day of auction

Unlimited floors will be allowed on plots abutting 30-metre width road, 15 floors and 10 floors on lands abutting 24-metre and 18-metre roads respectively.

Published: 03rd December 2021 08:22 AM  |   Last Updated: 03rd December 2021 08:22 AM   |  A+A A-

The highest bid upon which the auctioneer’s hammer fell was Rs 1.01 lakh as against the upset price of Rs 35,000 per square yard.

By S Bachan Jeet Singh
Express News Service

HYDERABAD: Twenty-three small and medium size plots that went under the hammer on the first day of e-action of Uppal Bhagayat lands fetched a whopping Rs 141.61 crore for the Hyderabad Metropolitan Development Authority (HMDA) on Thursday. 

According to the HMDA officials, the highest bid upon which the auctioneer’s hammer fell was Rs 1.01 lakh as against the upset price of Rs 35,000 per square yard while the lowest bid stopped at Rs 53,000. The average bid realised on the day was Rs 71,815 per square yard.

The 23 plots, totalling 19,719 sq.yds, auctioned on the first day were in the range of 150 sq.yds to 1,787 sq.yds, . 

The HMDA took up the e-auctioning of 44 developed plots spread over 1,35,408 square yards in the Uppal Bhagayat Layout — The Hub of Life @ East City, near Nagole Metro Station. The e-auctioning is being done through MSTC Limited, a Union government enterprise. 

The HMDA officials informed Express that about 12 plots (14,486 sq.yds) were e-auctioned in the first session of the first day, which fetched Rs 97.27 crore. The highest bid went for Rs 77,000 per sq.yd and lowest bid for Rs 53,000 per sq.yd while the total average was around Rs 67,145 per sq.yd. 

In the second session, 11 plots (5,232 sq.yds) were e-auctioned, fetching Rs 71.81 crore. The highest bid was Rs 1.01 lakh and the lowest bid Rs 73,000 while the total average was around Rs 84,744 per sq.yd. 
A plot measuring 1,500 sq.yds fetched Rs 13.50 crore and another plot of 1,775 sq.yds fetched Rs 12.95 crore. 

Unlimited floors will be allowed on plots abutting 30-metre width road, 15 floors and 10 floors on lands abutting 24-metre and 18-metre roads respectively.

The remaining 21 plots (1,15,689 sq.yds), which are bigger in size, will go under the hammer in two session from 9 am on Friday. The notified plots range from 150 sq.yds to 15,149  sq.yds, which include residential plots (21), hospitals (2), shopping-cum-entertainment (4), educational institutions (2) and multipurpose use (15). 

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