Tag: Hyderabad

IndustryLatest Stories

Hyderabad’s HMDA earns ₹3,862 crore from record auctions

HYDERABAD: The land market in Hyderabad continues its upward trend, with the Hyderabad Metropolitan Development Authority (HMDA) completing four auction phases in the Neopolis and Golden Mile layouts, fetching a total of ₹3,862 crore and indicating strong investor confidence in the city’s growth sectors. In the final phase held on Friday, COEUS Education Management Private Limited acquired a 1.98-acre plot in Golden Mile for ₹77.75 crore per acre—₹7 crore above the starting price of ₹70 crore per acre. Since November 24, the HMDA has raised ₹3,862.8 crore from these auctions, demonstrating substantial market interest in premium, strategically located land across…

Latest StoriesRegulatory

Hyderabad Civic Body to Manage Records of Merged ULBs

HYDERABAD: The Greater Hyderabad Municipal Corporation (GHMC) has instructed deputy municipal commissioners (DCs) to immediately assume control of all administrative records from the 27 urban local bodies (ULBs) set to merge with GHMC. These records will be entrusted to the respective zonal commissioners. Officials are required to seize minutes books from the municipal councils and close the existing bank accounts of ULBs, transferring their balances to the GHMC’s designated bank account. Furthermore, the GHMC commissioner has directed DMCs to compile detailed information from all 27 ULBs, including lists of their employees, records of immovable properties, information on ongoing schemes and…

CommercialLatest Stories

JPMorgan Chase leases 176,000 sq ft office in Hyderabad

Representative Image BENGALURU: JPMorgan Chase has sub-leased a 176,000 sq ft facility in Hyderabad, marking another significant deal by the US financial services giant to secure office space in India’s major talent and technology hubs to enhance its global operations. This transaction is one of the largest by a financial services company in Hyderabad this year, underscoring JPMorgan’s ongoing commitment to India’s global capability centre (GCC) ecosystem. The space, located in Skyview 20, an office tower in Madhapur, has been rented under a general service agreement between JP Morgan Services and WeWork India Management, as per lease documents acquired from…

IndustryLatest Stories

Telangana Raises ₹1,000 Crore from Neopolis Land Auction

Representative AI image HYDERABAD: The Telangana government continues to thrive in land sales, recording approximately Rs 1,000 crore on Wednesday through the third round of auctions conducted by the Hyderabad Metropolitan Development Authority (HMDA), surpassing the Rs 100 crore per acre milestone. In the recent auction, Yula Constructions LLP and Globus Infracon LLP secured a 4-acre plot (No. 19) with a winning bid of Rs 131 crore per acre, while Brigade Enterprises Limited acquired another 4.04-acre plot (No. 20) for Rs 118 crore per acre. Cumulatively, HMDA’s earnings from all three phases of the Kokapet auctions now total Rs 3,708…

InfrastructureLatest Stories

Telangana CM Requests Hudco Loans for Metro and Future City

Representative AI image HYDERABAD: On Monday, Chief Minister A. Revanth Reddy urged Housing and Urban Development Corporation (Hudco) Chairman Sanjay Kulshrestha to provide loans at reduced interest rates for critical developmental projects in Telangana, including the proposed Bharat Future City on the outskirts of Hyderabad. Kulshrestha met the CM at his residence and was asked to assist with funding for projects like the expansion of the Hyderabad Metro Rail, Future City, the Indiramma housing program, Regional Ring Road, and radial road networks. Revanth also informed the Hudco chairman about upcoming greenfield road projects that will connect Future City to Chennai…

InfrastructureLatest Stories

Hyderabad: GHMC Plans to Double Wards to 300

Representative AI image HYDERABAD: The proposed merger of 27 municipalities into the Greater Hyderabad Municipal Corporation (GHMC) signals a substantial overhaul of the city’s administrative framework. Current plans could see the existing 150 wards, covering 650 sq km, expanding to nearly 300 wards across over 2,000 sq km, according to sources from the civic body. If implemented, the GHMC would become India’s largest municipal body by area (2,053 sq km) and the biggest elected municipal body in the country. The current largest is the Municipal Corporation of Delhi (MCD) with 250 wards, followed closely by the Brihanmumbai Municipal Corporation (BMC)…

Latest StoriesResidential

Hyderabad: 40% of Neopolis Homes Struggle Amid Big Land Auctions

HYDERABAD: Recent high-stakes land auctions have spotlighted Neopolis, Kokapet’s prime real estate area, but the situation on the ground is less promising for developers. Industry estimates indicate that about 40% of the over 10,000 homes launched here in recent years are struggling to sell, particularly larger units exceeding 4,500 square feet, with some projects reaching up to 7,000 square feet. “With the latest auctions and project announcements, unsold inventory is expected to increase further. We could see an additional 4,000 units added to the market, potentially slowing sales,” cautioned a senior real estate consultant, emphasizing the over-saturation in Hyderabad’s property…

InfrastructureLatest Stories

Hyderabad: 7 Years Later, No Funds for 27 Merging Bodies

HYDERABAD: Seven years after their merger with the Greater Hyderabad Municipal Corporation (GHMC), the 27 municipalities and municipal corporations still struggle to secure basic amenities and financial support. These urban local bodies (ULBs) are heavily reliant on limited property tax collections, lacking the necessary resources to undertake vital civic works such as road maintenance, drainage infrastructure, parks, and more. According to official sources, although the state has approved their merger, the GHMC plans to maintain these ULBs as separate municipal circles with their current staff until a comprehensive reorganization is implemented. The government is reportedly considering the establishment of two…

IndustryLatest Stories

Hyderabad: 4 Acres in Neopolis Sold for ₹609 Crore

HYDERABAD: Setting a new record beyond its previous high on Nov 24, the Neopolis auction saw a remarkable land sale on Friday. A 4.03-acre plot fetched an astounding Rs 151.25 crore per acre, contributing approximately Rs 609 crore to the state’s revenue. Additionally, another 5.03-acre parcel generated Rs 147.75 crore per acre for the Hyderabad Metropolitan Development Authority (HMDA), bringing the total to Rs 1,352 crore. During this week’s earlier Neopolis auction, the highest bid was Rs 137 crore. Plot no 15, measuring 4.03 acres, was secured by Lakshmi Narayana Gummadi, Karteesh Reddy Madgula, Sharat Ventrapragada, and Shyam Sunder Reddy…

IndustryLatest Stories

Hyderabad: ORR’s Challenged Industries Can Alter Land Use

Representative AI image HYDERABAD: The state government has rolled out the Hyderabad Industrial Lands Transformation Policy (HILTP) 2025, allowing industries within the Outer Ring Road (ORR) that are no longer economically viable due to outdated technologies to shift land use for residential and commercial purposes, upon payment of a fee. This change aims to generate revenue for the government. The cabinet approved this policy on November 17. Officials noted that this policy will affect approximately 10,000 acres in industrial estates, parks, and auto nagars managed by the Telangana State Industrial Infrastructure Corporation (TGIIC) and related authorities, as well as standalone…