hyderabad despite the economic slowdown there was an overwhelming response to the open plot auctions conducted by the hyderabad metropolitan development authority hmda in uppal bhagat layout on saturday on the first day of auction the authority got around rs 155 crore while the highest bid amount quoted for a plot was rs 77000 per square yard for a residential plot of 166 sq yards the lowest bid was recorded at rs 30200 per sq yard the average cost of the plots is around rs 46000 per sq yardin the first phase of the uppal bhagat layout plot auctions held a few months ago the highest quoted amount was rs 73900 per sq yard this time we got rs 77000 but the lowest bid amount in the first phase was rs 36000 but it was just little more than the upset price of rs 30000 per sq yard hmda secretary ram kishan told stoithe hmda has put up 124 plots for auction for second phase of auctions the first phase was conducted in april this year and fetched the authority around rs 670 crore the eauctions are being held for three days from december 14 to 16official sources said that 29 plots each were put up for auction in the morning and evening sessions while there was no response for two plots four plots got single bids this was due to vaastu reasons an official said as per the norms single bids would not be accepted hmda authorities said that they were a little apprehensive about the response due to the economic slowdown