Kokapet Neopolis auction | Hyderabad, Nov. 25: Land rates in the Kokapet Neopolis layout under HMDA shot up to record levels.
Officials auctioned plots 17 and 18 in the six-plot block. Bidders pushed prices far above the base value. HMDA fixed the base at 99 crore rupees per acre. Yet builders drove the final price to 137.25 crore rupees per acre. Officials said other plots may see similar results.
The surge followed strong activity in recent Hyderabad auctions. Earlier, TGIIIC land in Rayadurg fetched 177 crore rupees per acre. This trend lifted confidence among developers.
Moreover, the Neopolis layout sale showed rising demand for premium land. HMDA planned e-auctions for plots 15 to 20. They opened two plots on Monday. The remaining plots will go under the hammer over the next week.
KOKAPET NEOPOLIS AUCTION SURGE
Plot 17 covers 4.59 acres. Bidders lifted the price to 136.50 crore rupees per acre. Vajra Housing Projects LLP secured the plot. Plot 18 covers 5.31 acres.
MSN Urban Ventures LLP bought it at 137.25 crore rupees per acre. These figures marked a sharp jump from 2023 prices.
That auction saw an average of 73 crore rupees per acre. The new rate showed an 87 percent rise. Investors said this jump reflected strong trust in Neopolis.
The two plots delivered 1,356 crore rupees to the government. Officials said this revenue boost will support ongoing urban projects. They noted intense competition as ten national and local developers joined the auction.
The MSTC portal handled bids between 11 am and 2 pm. Developers pushed prices upward from the first round. As a result, Hyderabad gained national attention once again. Real estate groups said the city proved its strength in high value land markets.
More auctions are due soon. HMDA will auction two more Neopolis plots on the 28th of this month. It will auction the remaining two plots on December 3.
It will then auction Gold Mine layout plots in Kokapet and 15 acres in Moosapet on December 5. Real estate firms expect more record prices.
They said demand remains high across western Hyderabad. HMDA Commissioner Sarfaraz Ahmad welcomed the results. He said strong bidding showed deep investor faith in Hyderabad’s growth corridor.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
