Kokapet Land Auction Ends, Telangana Govt Gets Rs 3,862 crore
Seven plots were put up for auction — six in Neopolis Layout and one in Golden Mile Layout. The upset price for the land in the Neopolis Layout was Rs 99 crore per acre, while it was Rs 70 crore per acre at Golden Mile Layout.
Hyderabad: The auction of land parcels at Kokapet concluded on Friday, raising `3,862 crore for the government. On the last day of auction, the government sold a 1.98-acre parcel in the Golden Mile Layout at Kokapet for `153.94 crore.
The upset price was Rs 70 crore per acre. It was bought for Rs 77.75 crore per acre by COEUS Education Management Pvt. Ltd. Commenting on the price, an HMDA official said, “This price is notable given the site’s distinctive shape.”
The mixed-use development is permitted on this land, without any limit on floor space index.
Seven plots were put up for auction — six in Neopolis Layout and one in Golden Mile Layout. The upset price for the land in the Neopolis Layout was Rs 99 crore per acre, while it was Rs 70 crore per acre at Golden Mile Layout.
In the first round of auctions held on November 24, one of the plots in Neopolis was sold for `137.25 crore per acre. Based on latest transactions, the revised average pricing for Neopolis land stands at `137.36 crore per acre.
In the second phase of the auction on November 28, two land parcels were sold in Neopolis Layout — one for `151.25 crore per acre and the other for `147.75 crore per acre.
In the third phase conducted on December 3, one plot was bid for `131 crore per acre, and another at `118 crore per acre, both located in the Neopolis Layout.
“The price discovered in the auction is 87 per cent more than the price in the 2023 auction. It reflects the market confidence in Hyderabad,” said an HMDA official.
“The auction has demonstrated that Neopolis has evolved from an emerging precinct into a clear destination of choice for leading national and regional developers,” he added.
