HMDA nets Rs 3,708 crore revenue from Neopolis auctions

The Hyderabad Metropolitan Development Authority (HMDA) has realised Rs 3,708 crore from three phases of the Neopolis auction series, with the latest phase concluding on Wednesday. Focus now shifts to the Golden Mile auction on December 5, expected to sustain developer enthusiasm.

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) has achieved a cumulative realisation of Rs 3,708 crore from all three phases of the Neopolis auction series, with the third phase of the auction concluding on Wednesday.

“In the third phase, Plot 19 was secured by Yula Constructions LLP and Globus Infracon LLP at Rs 131 crore per acre, followed by Plot 20 which was secured by Brigade Enterprises Limited at Rs 118 crore per acre,” an HMDA statement said.

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The revised average pricing for the Neopolis auctions now stands at Rs 137.36 crore per acre, representing an increase of approximately 87 per cent over the previous Neopolis auction cycle in 2023.

With Neopolis posting consistent value enhancement across all phases, attention now turns to the upcoming auction at Golden Mile, scheduled for December 5, which is expected to attract continued interest from the development community, HMDA added.