Advertisement
Hyderabad's Neopolis witnessed a record land transaction during HMDA's latest e-auction, where a 4.03-acre plot was sold for INR 151.25 crore per acre, totalling around INR 609 crore. A second 5.03-acre parcel fetched INR 147.75 crore per acre, bringing the day's combined proceeds to INR 1,352 crore. With earlier auctions held this past week, HMDA's total collections from Neopolis have reached INR 2,708 crore. The strong bidding reflects rising developer interest in the area, backed by its location advantages and demand for large-scale development parcels.
Hyderabad Metropolitan Development Authority recorded one of its highest-value auction results in Neopolis, Kokapet, when a 4.03-acre land parcel achieved a rate of INR 151.25 crore per acre. This pushed the plot's total value to about INR 609 crore, marking the highest per-acre price achieved in the locality so far. The auction also included a 5.03-acre plot that secured INR 147.75 crore per acre, resulting in a combined collection of INR 1,352 crore from the two parcels. Advertisement
The 4.03-acre plot was won by four individual bidders: Lakshmi Narayana Gummadi, Karteesh Reddy Madgula, Sharat Ventrapragada, and Shyam Sunder Reddy Vangala. The 5.03-acre land parcel was purchased by Godrej Properties Limited, adding another major developer to the group of companies expanding their presence in the western Hyderabad corridor.
Across the three rounds of auctions held during the past week, HMDA's total realisation from Neopolis has reached INR 2,708 crore. Based on the bids received so far, officials have noted that the average land rate in Neopolis now stands at approximately INR 142.83 crore per acre, placing it among the highest-priced micro-markets in Hyderabad.
HMDA has lined up additional auctions in the coming days. Two more Neopolis land parcels are scheduled for the next round, with an upset price of INR 99 crore per acre. Plots in neighbouring layouts, including Golden Mile and Moosapet, are also planned for auction later, with upset prices of INR 70 crore and INR 75 crore per acre respectively.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
