HMDA raised Rs 713.39 crore through an online auction of residential plots in Mokila village, located near Shankarpally in the district of Ranga Reddy. On Tuesday, the second phase of the auction finished, bringing in Rs 595 crore. 

Secretary of Urban Infrastructure and Development Arvind Kumar said, "A total of 346 plots measuring 1,13,325 square yards were e-auctioned in two phases over the course of six days, realizing Rs 713.39 crore at a rate of 63216 per square yard."

Over the last five days, 300 lots comprising 98975 square yards have been put up for auction as part of phase II—the final day of the auction brought in Rs 102.73 crore in income.

Priced at a high of Rs 64,000 and a low of Rs 49,000, bids ranged widely. The total weighted average for the second phase, which began on August 23 and ended on Tuesday, was Rs 60,575. Phase I had a weighted average of Rs 80,397 (Rs 1.05 lakh being the highest and Rs 72,000 being the lowest). However, on August 7, during phase I, 50 plots totaling 15800 square yards were sold for Rs 121.40.

Sixty plots were auctioned off online during phase II. Good interest was shown over the first three days, and the HMDA brought in an average of more than 120 crores from August 25-27.