The stamina of real estate in Hyderabad has been proved yet again on Thursday (today) when HMDA coducted auction of plots located in Uppal Bhagayat.
Each sq.yard fetched Rs 1.01 lakh in Uppal on par with plots in posh Jubilee Hills areas in Hyderabad
The HMDA has put up 44 plots for auction.
On Day-1, it auctioned 23 plots. Two plots fetch Rs 1.01 lakh per sq.yard.
The HMDA earned Rs 141 crore by auctioning plots over an extent of 19,000 sq.yards.
The auction on Friday (tomorrow) of 21 plots over an extent of 1.15 lakh sq.yards is expected to fetch another Rs 900 crore.
The minimum price was fixed at Rs 35,000 per sq.yard in the auction but the buyers bid for higher amount. The highest bid was Rs 1.01 lakh per sq.yard.
Since the plots are located in multi-purpose zone, there was huge demand from buyers even from foreign countries. NRIs from US, UK, Canada etc took part in e-bidding.
