One Acre Land cists  Rs 100 Cr in Hyderabad

 

Hyderabad: In the history of the Hyderabad Metro Development Authority (HMDA), Kokapet and Mokila areas set a benchmark in land prices in and around Hyderabad by selling an acre of land as well as one square yard of land in the recently held e-auction.

One acre of land developed in Neopolis layouts of survey numbers 239 and 240 in Kokapet by HMDA was sold at Rs 100.75 crore. Plot number 10, which has 3.6-acre land adjacent to the main road in the layout, was sold at Rs 362.70 crore where each acre valued at Rs 100.75 crore.

In comparison to the last time’s auction, this time each acre was sold out with an increase in the rate of Rs 40 crore. The HMDA has recently conducted an e-auction to an area of 45.33 acres in seven plots for the second phase in the Neopolis layout in Kokapet.

Apart from real estate giants such as Shapoorji Pallonji, APR, Myhome, and Rash Pushpa small companies also took part in the e-auction. The auction for 6, 7, 8 and 9 plots were conducted in the morning and the auction for 10, 11 and 14 plots were conducted in the afternoon. The morning session saw the highest bid at Rs 75.50 crore per acre whereas the afternoon witnessed Rs 100 crore per acre bid.