HYDERABAD: Following the Telangana State Industrial Infrastructure Corporation’s (TSIIC) record land auctions in Raidurg, the Hyderabad Metropolitan Development Authority (HMDA) has announced plans for e-auctions of 44 acres of government land in Kokapet and Moosapet, aiming to generate approximately ₹5,000 crore in revenue.
The HMDA has set the minimum bid price at ₹99 crore per acre for the Neopolis layout in Kokapet, ₹70 crore per acre for the Golden Mile layout also in Kokapet, and ₹75 crore per acre in Moosapet. This will be the third phase of auctions in Neopolis and the second phase in Golden Mile.
Auctions for six land parcels totaling 27 acres in Neopolis are scheduled for Nov 24, 28, and Dec 3. Additionally, a 1.98-acre parcel in the Golden Mile layout, along with two parcels (11.48 acres and 3.18 acres) in Moosapet near Balanagar Y Junction, will go on sale on Dec 5.
Officials noted that Kokapet remains a popular choice due to its proximity to the airport, financial district, central business district, and Hi-Tec City, all connected by the Outer Ring Road.
Previously, the upset price was set at ₹35 crore per acre, but HMDA managed to secure an average of ₹60 crore per acre, with bids reaching up to ₹100 crore per acre. Recently, TSIIC achieved a record ₹177 crore per acre in their Raidurg auction. Due to increasing demand, HMDA is now starting bids at ₹99 crore per acre, with expectations to reach ₹150 crore per acre.
