HYDERABAD: The recent land auction by the Hyderabad Metropolitan Development Authority in the Medipally layout garnered a strong response, with the sale of 68 plots bringing in almost ₹120 crore on Wednesday.
Bidding exceeded the reserve price of ₹45,000 per square yard, reaching as high as ₹80,000 per square yard. The average bid landed at ₹56,260, highlighting the increasing demand for HMDA-developed areas.
As part of a phased auction process, further plots in Mokila, Chandanagar, Bairagiguda, Narsingi, and Bowrampet will be sold by June 30. However, the auction faced challenges, including a Telangana High Court order that temporarily halted the sale of an 8.24-acre plot in Banjara Hills.
HMDA Commissioner Sarfaraz Ahmad indicated that the Medipally auction reflects strong market confidence: “The significant participation from bidders across Hyderabad and neighboring areas demonstrates the rising interest in well-planned residential developments,” he remarked.
Out of the 68 plots, 63 were successfully auctioned, with the highest bid recorded at ₹80,000 per square yard. Officials noted that the healthy turnout and competitive bidding emphasize Medipally’s appeal as a residential destination, aligning with HMDA’s strategy to monetize prime land through transparent auctions.
