Hyderabad Metropolitan Development Authority’s Medipally auction nets ₹120 crore amid strong demand

Hyderabad: The Hyderabad Metropolitan Development Authority’s latest land auction in Medipally layout drew an overwhelming response, fetching nearly ₹120 crore from the sale of 68 plots on Wednesday.With bids soaring well above the reserve price of ₹45,000 per sq yard, one plot touched ₹80,000 per sq yard, while the average bid settled at ₹56,260 — underscoring the rising appetite for HMDA‑developed layouts.The Medipally auction was part of a phased exercise that will see plots in Mokila, Chandanagar, Bairagiguda, Narsingi and Bowrampet go under the hammer until June 30. However, the process has not been without hurdles.

Telangana high court on Tuesday stayed the sale of an 8.24‑acre parcel in Banjara Hills.HMDA commissioner Sarfaraz Ahmad said the Medipally sale reflected strong market confidence. “The auction attracted significant participation from bidders across Hyderabad and surrounding regions, reflecting the growing demand for well‑planned residential developments,” he noted.Of the 68 plots, 63 were successfully auctioned, with the highest bid reaching ₹80,000 per sq yard.Officials said the robust turnout and competitive bidding highlight Medipally’s attractiveness as a residential hub, reinforcing HMDA’s strategy of monetising prime land parcels through transparent auctions.