2 hrs ago
Hyderabad Kokapet Land Parcels Fetch Record Prices In HMDA Auction
The Hyderabad Metropolitan Development Authority held an online auction for valuable land.
The land was in Kokapet, an important growth area.
One small parcel at Golden Mile Site-1 sold for Rs 115 crore.
Its starting price was Rs 70 crore.
Another large plot in Neopolis Layout received one bid.
That bid valued the plot at Rs 120 crore per acre.
The locations are close to major roads and business areas.
This shows that bidders are interested in land in western Hyderabad.
A 0.70-acre Golden Mile Site-1 parcel fetched a record Rs 115 crore.
The Golden Mile parcel had an upset price of Rs 70 crore.
HMDA held e-auctions for land in Kokapet’s Neopolis Layout and Golden Mile Site-1.
A 4.59-acre Neopolis Layout plot received one bid at Rs 120 crore per acre.
The parcels attracted interest because of their connectivity to key Hyderabad locations.
- Who
- The Hyderabad Metropolitan Development Authority conducted the e-auction, with bidders competing for the parcels.
- What
- Prime land parcels in Kokapet fetched high prices, including Rs 115 crore for a 0.70-acre Golden Mile Site-1 parcel.
- Where
- The parcels were in Neopolis Layout and Golden Mile Site-1, Kokapet, Gandipet Mandal, Ranga Reddy District.
- When
- The auction was held on Wednesday.
- Why
- The parcels attracted strong interest because of their strategic locations and connectivity to the Outer Ring Road, Financial District, Gachibowli and Hitec City.
Key facts
- Highest bid
- Rs 115 crore for a 0.70-acre Golden Mile Site-1 parcel
- Golden Mile upset price
- Rs 70 crore
- Neopolis plot
- Plot No. 17, measuring 4.59 acres
- Neopolis bid rate
- Rs 120 crore per acre
- Auction locations
- Neopolis Layout and Golden Mile Site-1, Kokapet
- Conducting authority
- HMDA
- Auction day
- Wednesday
Sources
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