Hyderabad city land auctions are at shocking prices. Recently, the Kokapet land auction made headlines. Recently, Mokila Layout properties were auctioned near the IT area. 

On Monday, investors flooded the Hyderabad Metropolitan and Development Authority (HMDA) e-auction of plots at Mokila layout, Shankerpally Mandal, Rangareddy district. 

The auction took place in two phases, one in the morning and another in the evening. At the auction, plots sold like hotcakes. 

After two e-auction sessions, the HMDA earned Rs. 121.40 crore, three times the basic value. As per the press release, Mokila layout e-auction square yard prices hit Rs 1, 05,000. 

With a high of Rs 1,05,000 per square yard and a low of Rs 72,000 per square yard, the average weighted price was Rs 80,397, roughly three times the base upset price.

Located just two kilometres from the Narsingi-Shankerpally road, the Mokila layout offers 165 acres and 50 open plots for sale. The total space was 15,800 square yards, with each plot ranging from 300 to 500 square yards. 

In a press release, the HMDA said that phase II of the Mokila layout will be auctioned soon due to investor interest. The upset price for the e-auction was Rs 25,000 per square yard, and the total anticipated value of the saleable area was Rs 40 crore.