HMDA’s Kokapet Neopolis land auctions cross ₹3,708 Cr in three phases; Golden Mile auction on Dec 5
The average land price has now surged to Rs 137.36 crore per acre, marking a staggering 87 per cent jump compared to the 2023 auction cycle
By - Sistla Dakshina Murthy
Representational Image
Hyderabad: The Hyderabad Metropolitan Development Authority’s (HMDA) Neopolis land auctions have crossed a landmark Rs 3,708 crore revenue across three phases, with the latest round on December 3 witnessing record bids.
Plot 19 was bagged by Yula Constructions and Globus Infracon at Rs 131 crore per acre, while Plot 20 went to Brigade Enterprises at Rs 118 crore per acre.
The average land price has now surged to Rs 137.36 crore per acre, marking a staggering 87 per cent jump compared to the 2023 auction cycle.
Eight acres fetch nearly ₹1,000 Cr in latest round
In the third phase, HMDA conducted an e-auction for 8.04 acres of premium land in Kokapet Neopolis. With aggressive bidding from top developers, the authority earned close to Rs 1,000 crore in a single day, reflecting the robust demand for high-end commercial real estate in west Hyderabad.
Strong bidding for plots 19 and 20
Plot No. 19 emerged as the highest-value parcel in the latest auction, fetching Rs 131 crore per acre, while Plot No. 20 was sold at Rs 118 crore per acre. The winning bids by leading real estate players underline investor confidence in Kokapet’s growth story.
Total six plots sold in three phases
With the completion of three phases, six plots spanning 27 acres have been successfully auctioned so far. The cumulative revenue of Rs 3,708 crore marks one of the highest returns generated by HMDA through land monetisation in recent years.
Golden Mile, Moosapet auction on December 5
All eyes are now on the next e-auction scheduled for December 5, where HMDA will offer two acres in the high-profile Kokapet Golden Mile, and 15 acres of land in Moosapet. These parcels are expected to attract stiff competition from developers.
Kokapet consolidates its position as realty hotspot
Backed by proximity to the Financial District, IT corridors, and major infrastructure projects, Kokapet continues to consolidate its status as Hyderabad’s most lucrative real estate growth zone, driving unprecedented revenues for HMDA, realtors said.
