Kokapet Plot Sold for Rs 151 Crore an Acre
Two plots fetch Rs 1,352 crore, pushing total Neopolis auction value to Rs 2,708 crore
Hyderabad: A plot was sold for Rs 151.25 crore per acre during the second round of auction of land parcels in Neopolis Layout in Kokapet on Friday. Another plot was auctioned for Rs 147.75 crore per acre. The upset price for these two “multi-zone use” plots was Rs 99 crore per acre.
The plots were auctioned by the Hyderabad Metropolitan Development Authority (HMDA) on behalf of the state government, and the total revenue generated for Telangana on Friday through just these two plots was Rs 1,352.71 crore.
This revenue has added significant momentum to the ongoing auction series and, when combined with the revenue from the first round of auctions, the total value realised from the Neopolis auctions now stands at Rs 2,708 crore.
Gummadi Lakshmi Narayana, Karteesh Reddy Madgula, Sharat Ventrapragada and Shyam Sunder Reddy Vangala together won the bid for the 4.03-acre land parcel — Plot 15 — which saw a record price of Rs 151.25 crore per acre.
The total price for the entire plot was Rs 609.53 crore. Godrej Properties Ltd won the bid for Plot 16, measuring 5.03 acres, which was auctioned for Rs 147.75 crore per acre. The total price for this entire plot is Rs 743.18 crore.
With these record-setting outcomes, the revised average value of Rs 142.83 crore per acre reflects one of the steepest upward movements witnessed in the Hyderabad land market, according to HMDA. The results demonstrate that Neopolis has evolved from an emerging precinct into a clear destination of choice for leading national and regional developers.
With two consecutive rounds delivering record valuations, expectations are now high for the upcoming e-auctions scheduled on December 3 at Neopolis and December 5 at Golden Mile in Kokapet, which are anticipated to attract equally strong interest from the development community.
With valuations rising sharply and competition intensifying, Neopolis has now established itself among the highest-value urban land destinations in India, HMDA said in a statement.
HMDA has successfully completed the second round of Neopolis e-auctions held on November 28, 2025, delivering another extraordinary outcome that surpasses the results achieved in the first round on November 24, the metropolitan authority said.
In the Neopolis Kokapet auction held in 2023, Gummadi Lakshmi Narayana, Vangala Shyam Sunder Reddy, Madugula Karteesh Reddy and Venkateswara Rao Ventrapragada bid Rs 513.80 crore for 7.34 acres at Rs 70 crore per acre.