HMDA concludes its land auction, fetches Rs 3,862.8 crore

The Hyderabad Metropolitan Development Authority (HMDA) concluded its latest land auction phase with the sale of the Golden Mile site. COEUS Education Management Pvt. Ltd. acquired the 1.98-acre parcel at Rs 77.75 crore an acre.

Hyderabad: With the land auction of Golden Mile site, the Hyderabad Metropolitan Development Authority (HMDA) concluded its latest phase of land auctions, held on Friday.

“The 1.98-acre Golden Mile site was secured by COEUS Education Management Pvt. Ltd. at Rs 77.75 crore an acre. With this outcome, HMDA’s cumulative revenue from auction initiatives reached Rs 3,862.8 crore, underscoring strong market appetite for well-located development opportunities across the metropolitan region, according to an official statement.

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HMDA’s auction programme was ably supported by transaction advisors Cushman & Wakefield and the MSTC e-auction platform, ensuring a transparent, competitive, and efficient bidding process throughout the series. These outcomes further reinforce Hyderabad’s position as one of India’s most attractive destinations for real estate investment, the statement added.