HMDA puts up another land parcel for auction

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) is auctioning off 98,975 yards of land in Mokila Phase-II, on the outskirts of Hyderabad city. The auction will be held on August 22, 2023.

A total of 300 plots will be auctioned, with sizes ranging from 300 to 500 yards. The registration fee for the auction is Rs. 1,180, and interested persons will have to deposit Rs 1 lakh as security.

The basic price of the land has been set at Rs 25,000 per square yard. However, it is expected that the land will fetch much higher prices at the auction, given the high demand for real estate in Hyderabad.The HMDA is hoping to raise Rs 800 crores from the auction of the Mokila Phase-II land.  (INN)

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