HMDA Success: Mokila Layout E-Auction Strikes Gold at Rs 1 Lakh/sqyd!

After the rewarding response to the first e-auction of Mokila plots, the state government came up with another phase of e-auction. The second phase of the e-auction of plots at Mokila village Shankarpally mandal of Ranga Reddy district fetched a lumpsum of Rs. 122.42 crore for HMDA (Hyderabad Metropolitan Development Authority). Since the layout is close to places like Neopolis, Financial District, and Narsingi, the auction rates went as high as Rs. 1,00,000 per square yard. HMDA churned out twice the base value of the plots in the two sessions of the Mokila Layout e-auction.

The e-auction was carried out over an area of 165 acres and 60 open plots. The online bidding process was held through the Central Government’s e-auction platform, the Metal Scrap Trade Corporation Ltd (MSTC). The plots for sale in Hyderabad ranged from 300 square yards to 500 square yards, covering a total area of 20,024 square yards. 

The initial price was set as Rs. 25,000 per square yard with bidding multiples of Rs. 1000 per square yard. The final estimated value was Rs. 50.07 crore. Contrarily, the average price of the plots soared to Rs. 63,512 per square yard, with Rs. 1,00,000 per square yard as the highest and Rs 54, 000 per square yard as the lowest bid. This was more than twice the base price. 

Earlier in the first phase of the Mokila Layout e-auction, HMDA bagged a price three times more than the market price per square yard. Fifty plots were put on auction, out of which 48 were sold. With the highest and lowest bid being Rs 1.05 lakh and Rs. 72000 lakh per square yard, respectively, the average bid amount per square yard was Rs 80,397. Owing to the overwhelming response in the first phase of the e-auction, HMDA decided to come up with a second phase of auctions in Mokila. 

Unlike Kokapet, the plots in Mokila were focussed on middle-class and upper-middle-class buyers. The plots are located surrounding green landscape and are an ideal real estate location for buyers who are looking for plots for sale in Hyderabad amidst nature.  In addition, the rapidly developing infrastructure facilities in and around the suburbs of Mokila are making it a top priority for many real estate investors. The plots are in proximity to some prominent areas like Kokapet, Gandipet, Narsingi, Kollur, and Tellapur. The Ligampally MMTS Station is 18 km from Mokila and allows a quick commute to other parts of the city. The plots are located 43 km away from Rajiv Gandhi International Airport. Mokila is undoubtedly a smart real estate choice to invest in to get the maximum ROI in the near future.