Prime Kokapet land parcels draw highest bids in HMDA auction

The Hyderabad Metropolitan Development Authority’s e-auctions of prime land parcels in Kokapet saw record bids, with Golden Mile Site-1 fetching Rs 115 crore per acre and Neopolis Layout’s Plot No. 17 receiving Rs 120 crore per acre.

Hyderabad: Hyderabad Metropolitan Development Authority (HMDA) conducted e-auctions for prime land parcels at Neopolis Layout and Golden Mile Site-1 in Kokapet, Ranga Reddy district, on Wednesday and received the highest bid prices. 

In a press statement, the HMDA stated that the 0.70-acre Golden Mile Site-1 parcel attracted the highest bid of Rs 115 crore per acre, against the proposed upset price of Rs 70 crore per acre. 

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At Neopolis Layout, the 4.59-acre Plot No. 17 received a single bid of Rs 120 crore per acre, it said.

Both land parcels are in Kokapet village, Gandipet mandal, with connectivity to Outer Ring Road, Financial District, Gachibowli and HITEC City. Their location in Hyderabad’s western growth corridor makes them attractive for real estate development and investment, according to the press release.