Day 1: Vuda sells 40 plots

Visakhapatnam: After a long gap, Vuda started conducting auction for the plots in the layout it developed in Dakamarri in collaboration with a private developer. Of the total 130 plots that are up for grabs Vuda received around 142 applications for which auction has begun on Monday. The auctions will continue till Wednesday. Vuda had fixed an upset price of Rs 11,000 and Rs 10,000 per sq yard.

On day one of the 48 MIG plots put on for auction Vuda could sell around 40 and earned Rs 12.71 crore. The highest bid was Rs 14,600 per sq yard. Though there were some hitches due to internet connectivity when the auction began, it went on peacefully further. In the coming two days remaining MIG and HIG plots along with odd bits of the Vuda’s earlier layouts will be auctioned.

The layout, Fortune Hills, is a joint venture between Vuda and a private real estate developer in an area of 99 acres. Apart from  130 plots in HIG, MIG, LIG and EWS category plots in Fortune Hills, another 60 odd bits located in various parts of the region are also being put into auction. The Vuda received 83 applications for Fortune Hills physically and another 139 through online. The odd bits received 81 applications. The upset price for HIG category has been put at Rs 11,000 per square yard and Rs 10,000 for MIG.