Medipally Auction by Hyderabad Body Nets ₹120 Crore Amid Demand
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…