Saroornagar plot fetches 45,000 a sq yd

Hyderabad, Feb. 22: The auction of plots, both residential and commercial, by the Hyderabad Urban Development Authority (Huda) continued on Wednesday. The Huda raised a total of Rs 82.41 crore through the bids. The highest bid, Rs 45,000 per square yard, was for a plot of land at the Chitranagar layout in Saroornagar. Three commercial plots went under the hammer at Chitranagar, with the plots measuring between 2,000 and 4,278 square yards. Bids for residential plots in Chitranagar ranged between Rs 13,600 and Rs 20,000 per square yard.
In Asifnagar, plots for group housing were bid for between Rs 29,000 and Rs 34,000 per square yard, while in Ramachandrapuram group housing schemes, bids came in between Rs 8,800 and Rs 15,000 per square yard. In Miyapur, for Category I plots, parties, including real-estate development companies, bid between Rs 11,100 and Rs 13,300 per square yard.
The auctions will continue on Thursday for commercial plots of land, for which bids were submitted on Wednesday, according to Pradeep Jain, chairman of the New Delhi-based Parsvnath Developers Ltd., a large real-estate development company which has a land bank of over 2,000 acres around the country.