Overview
- HMDA sold 63 of 68 developed residential plots in the Medipally Phase III e-auction, generating roughly ₹120 crore in receipts from the sale on Wednesday.
- Bidders pushed the top price to ₹80,000 per square yard and produced an average rate of ₹56,260 per square yard, figures HMDA released after the auction.
- The outcome marks a clear price rise from the last comparable Medipally sale three years ago when the highest bid was ₹50,000 per square yard.
- HMDA said the online platform drew widespread participation from homebuyers and investors across Hyderabad and nearby areas, reflecting growing market confidence in planned layouts.
- The authority’s practice of developing layouts and selling plots by e-auction secures upfront revenue for municipal projects and could speed development and raise land values in east Hyderabad, a trend to watch in future disposals.