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Telangana government nets crores from plot auction in Mokila

2023-08-09

Not just Kokapet, but even the nearby communities of Mokila appear to be seeing record real estate prices. The state government won a 165-acre plot at auction on Monday in Mokila village, close to the Narsingi-Shankarpally road, for three times the going rate per square yard.

The Hyderabad Metropolitan Development Authority (HMDA) held an auction for plots, with the highest bid reaching Rs. 1.05 lakh per square yard (for plot no. 242) and the lowest at Rs. 72,000 per square yard (for plots no. 266 & 311). Rs 80,397 was the average bid price per square yard.

In total, 48 of the 50 plots that were put up for sale and ranged in size from 300 to 500 square yards were sold by the state, bringing in a total of Rs 121 crore. Two plot auctions were canceled as a result of unusual or incorrect bids.