Hyderabad’s Kokapet land prices touch a new high of Rs. 100 Crores per Acre

The e-auction of seven primary open plots in Neopolis Layout in the Kokapet region of Hyderabad has fetched a record amount for HMDA. The auction which was spread over 45.33 Acres generated a huge record amount of Rs 3,319.6 crore with the highest bid going for an all-time high of Rs 100.75 crore with an average bid for the seven plots standing at Rs. 73.23 Crores per acre.

HMDA released a statement in this regard. “Seven plots ranging from 3.60 acres to 9.71 acres at Kokapet, an extent of 45.33 acres were auctioned. The upset price value for the above plots was Rs 1,586.50 crore. The total revenue to be received through an auction for the above plots is Rs 3,319.60 crore while the highest price received was Rs 100.75 per acre which is an all-time high record in the State. The upset price fixed was Rs 35 crore per acre whereas the average bid price per acre is Rs 73.23,” HMDA stated in the statement.

Rajapushpa Properties Pvt. Ltd., offered the highest bid of Rs. 100.75 Crores for Happi Heights Neopolis. Rajapushpa acquired the 3.6 acres for a huge sum of Rs. 362.7 Crores.