Bhopal, April 3 -- In a first the Madhya Pradesh Housing Board (MPHB) plots at Ayodhya Nagar Extension sold for double their base price, generating over Rs 8.72 crore in revenues. The online auction attracted overwhelming demand.
Earlier this month, the board offered 11 plots at Ayodhya Nagar Extension through an online auction. Plots with a base price of Rs 54.72 lakh sold for over Rs 1.25 crore each. Three 1,800 sq. ft. plots fetched Rs 1.25 crore, Rs 1.21 crore, and Rs 1.18 crore respectively.
Similarly, 1,500 sq. ft. plots, with a base price of Rs 45 lakh, sold for over Rs 60 lakh each. The board received bids 77% higher than the collector's guideline. Against a base price of Rs 5.37 crore, the auction earned Rs 8.72 crore, reflecting...