HMDA's Mokila e-auction gets strong response

Property Pulse

The Hyderabad Metropolitan Development Authority (HMDA) has received a strong response to the Phase-III e-auction of residential plots at its Mokila Layout, with all 100 plots offered in the auction being sold.

According to HMDA, the highest bid touched ₹1,09,500 per sq. yd., while the average bid stood at ₹75,640 per sq. yd. The auction generated around ₹231.65 crore in revenue.

Officials said the response reflects continued buyer interest in planned layouts in Hyderabad's western growth corridor. Several plots witnessed competitive bidding, resulting in prices moving above the average during the auction.

Auction prices not a benchmark

HMDA clarified that the prices discovered through the e-auction are specific to the Mokila layout and should not be treated as benchmark rates for nearby private layouts or other localities.

Unlike private transactions, HMDA plots are allotted through a competitive bidding process, where multiple bidders compete for individual plots. As a result, auction prices may not necessarily reflect prevailing market rates in surrounding areas.

Real estate experts also advise buyers to evaluate private layouts on factors such as approvals, infrastructure, location and development potential rather than relying solely on auction prices while making purchase decisions.

 Land auction

• 100 residential plots sold.
• Highest bid of ₹1,09,500 per sq. yd.
• Average bid price ₹75,640 per sq. yd.
• Auction revenue ₹231.65 crore.
• HMDA says auction prices are specific to the Mokila layout.
• Auction rates not benchmark for nearby private layouts.