Hyderabad Development Authority is ready for an exclusive auction of 50 plots in Mokila on August 7, 2023.
Excitement buzzes through the city as the HMDA gears up for an unprecedented auction to cater to the aspirations of the middle and upper-middle-class sections. Known for its focus on large plots and infrastructure developers in the western regions, the HMDA has now set its sights on Mokila village near Shankarpally, where it has developed a layout spanning 165 acres, featuring a whopping 1,320 plots.
The much-awaited phase I auction of 50 plots is scheduled for August 7. Prospective bidders have been delighted to learn that the HMDA has fixed an upset price of Rs. 25,000 per square yard, with bids starting at Rs. 500 higher than the base price. The excitement further mounts as private developers have sold plots in Mokila and nearby areas for around Rs. 30,000 per sq. yard.
Special Chief Secretary (Municipal Administration) Arvind Kumar expressed his optimism, stating, “We are expecting an excellent response as the auctions are primarily meant for medium and upper-medium working-class people and employees, enabling them to fulfill their dream of owning a house.”
True to the predictions, the pre-bid meeting held on Friday witnessed a phenomenal turnout of about 200 eager participants, indicating the overwhelming interest in this golden opportunity.
Promising to elevate the living experience, the HMDA plans to provide all necessary infrastructure facilities, including well-designed roads with footpaths, central medians, an efficient underground sewage system, a robust water supply distribution network with overhead tanks, a reliable stormwater drainage system, uninterrupted electrical power supply, and adequate street lighting. The officials assured that all these works will be completed within an impressive timeline of 18 months.
The allure of the location further sweetens the deal. The layout is conveniently situated adjacent to the wide Shankarpally road, connecting seamlessly to Neopolis at Kokapet, Wipro crossroads, and the Financial District in a mere 20 minutes. Moreover, the radial road along the ORR allows easy access to the project within just 10 minutes. Its proximity to several esteemed educational institutions, including engineering colleges, adds to the appeal, making it a perfect spot for families.