Eyes on Kokapet auction as 45.33 acres up for sale in August

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) on Thursday hosted the pre-bid meeting for the auction of Neopolis Phase-II Plots at T Hub. More than 100 firms, real estate developers and builders took part in the event held at Hyderabad Knowledge Corridor at Hitec City.

The pre-bid meeting was conducted in three parts; Knight Frank sharing the potential of Kokapet as a location, HMDA clarifying the planning, infrastructure and development queries and MSTC on the e-bidding process. The sessions were conducted both in-person, which saw an overwhelming attendance despite the weather conditions and an online session which saw greater participation from promoters and decision-makers.

On behalf of the Government of Telangana, HMDA has decided to auction seven plots ranging from 3.6 acres to 9.71 acres with a total extent of 45.33 acres on August 3 in two sessions, from 11 am to 2 pm for 4 plots and 3 pm to 6 pm for 3 plots.

The HMDA has organised a pre-bid meeting for the prospective bidders to get clarifications, details of the plots and the process of e-auction to be held on August 3. The e-auction will be conducted by MSTC Limited, a central public sector undertaking with the Government of India.

During the meeting, the team explained the bidders and developers on the Neopolis opportunity and marketed to the cross-section of prospects across key markets of India, including Bangalore, Chennai Kolkata, NCR and Mumbai.

Respondents included individuals, NRIs, institutional investors, bankers, corporates, healthcare, infrastructure firms and property developers. The developer community represented a healthy balance of local, regional and national players.

Several developers who awaited a freehold opportunity showed enthusiasm towards the hi-rise and high FSI opportunity at the Neopolis. As part of a larger greenfield development of over 530 acres, and a location so close to the growth corridor of Hitec City-Knowledge City and Financial District, a multi-use zone is a delight for investors looking to explore the opportunity. Connected with the infrastructure of the Outer Ring Road, SRDP (Strategic Road Development Plans) and the future metro connectivity, HMDA stands as an ideal partner for providing and sustaining a superior ecosystem to the future owners of Neopolis lands.

Special chief secretary Arvind Kumar, who is also the metropolitan commissioner of HMDA responded to queries regarding the opportunity. Welcoming the investors, the commissioner reminded them of the success of the Phase 1 launch of Neopolis and the further investment, proposed up to 450 crore invested by HMDA in developing the infrastructure.

The pre-bid meeting was an engaging session with pertinent queries and clarifications raised by prospects. While several of the participants are established developers from key markets, there were several new names who are looking to now enter the Hyderabad market with a flagship project at the Neopolis. Queries ranged from e-auction registration and process to clarifications on the bidding method, transparency of the system and clarity of refunds.