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 a 62% increase. Bids ranged from Rs 4,000 to Rs 6,500 per sq. ft., surpassing expectations.
Deputy Housing Commissioner MK Sahu attributed the surge in property prices to the upcoming 10-lane Ayodhya Bypass Road, expected to enhance connectivity and demand in the area.
Bookings are also ongoing for two projects near the highway—Suramya Parisar and Lavkush Heights. Additionally, two major housing projects will soon be launched iat Ayodhya Nagar, promising further growth in real estate value and attracting more investors. This record-breaking auction highlights the growing appeal of the locality as a prime residential destination in Bhopal.
