HMDA Nets Rs 120 Crore As 63 Medipally Layout Plots Sold In Auction

The Hyderabad Metropolitan Development Authority (HMDA) generated approximately Rs 120 crore on Wednesday through the Phase-III e-auction of residential plots in the Medipally Layout, located in the Medchal-Malkajgiri district of Hyderabad.

Of the 68 plots offered during the online event, 63 were successfully auctioned to various bidders and investors. The competitive bidding process, which drew participants from Hyderabad and its surrounding regions, demonstrated strong investor confidence in HMDA-developed layouts and planned residential projects.

The e-auction was conducted in partnership with MSTC Limited, a Government of India enterprise. The residential plots offered in the Medipally Layout ranged in size from 231 square yards to 643 square yards.

HMDA had set an upset price of Rs 45,000 per square yard for the plots, with bidding increments fixed at Rs 500 per square yard or multiples thereof. During the auction, the highest bid reached Rs 80,000 per square yard, while the average bid for the successfully sold plots stood at Rs 56,260 per square yard. Several plots witnessed highly competitive bidding, with multiple participants vying for the same properties.

According to the auction terms, successful bidders must pay 25 percent of the sale value, excluding the Earnest Money Deposit (EMD), within seven days of receiving their official letter of offer. The remaining balance, which includes the EMD, must be paid within 60 days.

HMDA officials noted that the Medipally Layout has been planned with complete infrastructure and is designed to cater to all sections of society.

Following the completion of the Medipally auction, HMDA is preparing to conduct its next e-auction on June 29 and 30. This upcoming auction will feature 100 developed plots in the Mokila Layout at Shankarpally. These plots range in size from 300 square yards to 500 square yards, carrying an upset price of Rs 50,000 per square yard with bid increments of Rs 500 per square yard.