Hyderabad, July 15 -- The mega land auction undertaken by HMDA on behalf of thestate government on Thursday set offwith a massive response with companies having global and pan India presence participating in the e-auction.

A total of 60 bidders who paid earnest money deposit (EMD) of Rs 5 crore participated in the e-auction. The base price was Rs 25 crore per acre.

On behalf of the State government, the Hyderabad Metropolitan Development Authority (HMDA) is auctioning eight plots covering 49.92 acres in Kokapet.

Among the eight plots, four of them, plot number 1, 2, 3 and 12 in Neopolis layout have already been sold before noon. All these plots are located near the IT corridor as well as the Outer Ring Road.

The process was being moni...