Kokapet land auction: Telangana govt earns record Rs 3319.60 Cr revenue
Brigade Enterprises purchased land parcel for Rs 660 crore, which was the highest.
By Newsmeter Network Published on 4 Aug 2023 2:53 AM GMT
Hyderabad: Telangana government has earned revenue of Rs 3319.60 crore by auctioning 45.33 acres of prime land at Kokapet.
This is a huge revenue gain for the government ahead of the assembly election.
Brigade Enterprises purchased land parcel for Rs 660 crore, which was the highest. A total of 45.33 acres of land have been auctioned.
Hyderabad Metropolitan Development Authority conducted an e-auction of open plots about Neopolis @ Kokapet Phase –II, Gandipet Mandal, Rangareddy district through MSTC.
The auction of plots was widely published to attract investors and real estate developers across the metro cities of Mumbai, Bangalore, Chennai, and Hyderabad.
The entire layout is developed with the most modern infrastructure. It has 36 and 45-meter-wide roads and the plots are meant for high-rise buildings with unlimited FSI.
The layout is very close to the main city through ORR and other connecting roads.
Seven plots ranging from 3.60 acres to 9.71 acres at Kokapet were auctioned. The upset price value for the above plots was Rs 1586.50 crore. The total revenue to be received through the auction was Rs. 3319.60 crore.
The highest price received was Rs. 100.75 per acre which is a record in the state.
The upset price fixed was Rs. 35.00 crore per acre.
