9.06 acres in Kokapet Neopolis fetch staggering Rs 1,353 crore in latest HMDA auction
The State government placed Plot Nos. 15 and 16 in the Neopolis township, located in the Gandipet mandal of the Rangareddy district, under e-auction
By - Newsmeter Network
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Hyderabad: Land prices in Kokapet, located in Gandipet mandal of Rangareddy district, have touched a historic high with a record-breaking Rs 151.25 crore per acre fetched at an e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA) on Friday.
The auction was held at the prestigious Neopolis Layout, reaffirming Kokapet’s position as one of the most sought-after real estate destinations in Hyderabad.
The government earned a massive Rs 1,353 crore by auctioning just 9.06 acres across two prime plots, creating ripples across the real estate sector.
Top developers grab prime plots
In the e-auction: Laxminarayana Company acquired Plot No. 15, measuring 4.03 acres, at the highest-ever rate of Rs 151.25 crore per acre. Godrej Properties secured Plot No. 16, spanning 5.03 acres, at Rs 147.75 crore per acre.
The base price for these plots was fixed at Rs 99 crore per acre. The bidding began at 11 am and extended till 6 pm, reflecting intense competition among leading developers.
New record in Hyderabad’s Real Estate History
This sale marks the highest-ever per-acre land price in Hyderabad’s history. Just four days earlier, on November 24, land in the same Neopolis Layout (Plot No. 18) fetched Rs 137.25 crore per acre.
The sharp rise to Rs 151.25 crore within days highlights the rapid appreciation of premium land in the Kokapet corridor. Real estate experts say this will boost market sentiment and push up surrounding property values significantly.
More high-value auctions on the way
HMDA has lined up more major land auctions in the Neopolis and surrounding areas: Over 8 acres in Plots 19 and 20 will be auctioned on December 3. Another 1.98 acres in the Kokapet Golden Mile will go under the hammer on December 5. These upcoming auctions are expected to generate substantial additional revenue.
HMDA revenues surge with rising approvals
The number of applications for building permissions and layout approvals under HMDA has been steadily increasing. So far this year alone, HMDA has generated over Rs 1,000 crore in revenue.
In the coming year, high-value land parcels located in: Bayragiguda, Chandanagar, Puppalaguda, Bachupally, Bowrampet, Chengicherla, and Suraram across Rangareddy, Medchal–Malkajgiri, and Medak districts will be auctioned. HMDA expects these sales to generate an estimated Rs 10,000 crore in revenue.
