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The Hyderabad Metropolitan Development Authority (HMDA) witnessed a successful response to its Phase III e-auction of residential plots in the Medipally layout on June 24. A large majority of the plots offered during the auction were sold, highlighting continued interest in Hyderabad's real estate sector.

Majority of Plots Sold

Out of the 68 residential plots made available through the online auction, 63 were successfully purchased by buyers. The auction generated nearly Rs 120 crore in revenue for HMDA.

The strong participation from homebuyers and investors reflects growing confidence in well-planned residential projects developed by government agencies.

High Bids Recorded

The auction saw competitive bidding, with the highest offer touching Rs 80,000 per square yard. The average selling price across the auction stood at around Rs 56,260 per square yard.

Several plots attracted multiple bidders, indicating strong demand for residential land in the Medipally area and nearby localities.

Demand Remains Strong in Hyderabad

According to HMDA officials, the positive response to the auction shows that buyers continue to prefer developed layouts with proper infrastructure and planning.

The authority noted that the eastern corridor of Hyderabad is emerging as a key residential and investment destination, attracting both end-users and property investors.

Boost for Medipally Development

Officials believe the successful auction will encourage further growth and infrastructure development in Medipally. Increased investment in the area is expected to support future residential projects and improve overall connectivity and amenities.

With strong buyer participation and healthy bid values, the latest auction has once again highlighted the strength of Hyderabad's real estate market and the demand for quality residential plots.

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