Builders descend in droves to pick plots in Hyderabad
The Hyderabad Metropolitan Development Authority (HMDA) in the recently auctioned prime property plots in the heart of the city has amassed a sum of ₹677 crore, said an official spokesperson. It earned about ₹475 crore for 31 plots on the second day of auction. About 67 plots located in Uppal Bhagat layout near Nagole have been put up for auction. The first day's auction on April 7 fetched about ₹202 crore as per the upset price of ₹28,000 per sq yard, of which, HMDA would get ₹368 crore for all the 67 plots, however, they got almost double the expected amount. The highest amount bid by participants was ₹59,800 per square yard and the lowest was ₹36,600. Only big developers and builders who want to develop malls, commercial complexes, IT Towers etc have come forward to buy the plots.
📅Published on:
11 April 2019
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