Hyderabad: The e-auction of seven prime open plots in Neopolis Layout at Kokapet, spread across 45.33 acres, drew a massive response from investors, with the Hyderabad Metropolitan Development Authority (HMDA) generating a record Rs 3,319.6 crore on Thursday, with the highest bid going for an all-time high of Rs 100.55 crore for one acre of plot in Telangana.
The average bid for the seven properties was Rs. 73.23 crore per acre, compared to the upset price of Rs 35 per acre.
“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 crores. The total revenue to be received through auction for the above plots Rs 3,319.60 crore while the highest price received was Rs 100.75 per acre which is 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,” the HMDA in a statement said.
Happi Heights Neopolis, Rajapushpa Properties Pvt Ltd, who offered a total of Rs 362.7 crore for 3.6 acres, made the highest bid of Rs 100.75 crore for an acre. Navatris Investments, Rajapushpa Properties Pvt Ltd offered a record Rs 494.53 crore for 6.55 acres, with a price of Rs 75.50 crore per acre.
Brigade Enterprises Limited paid Rs 660.28 crore for 9.71 acre of land at a bid price of Rs 68 crore in terms of greatest total income invested in the e-auction. The APR Group has spent Rs 506.39 crore for 7.53 acres at a bid price of Rs 67.25 crore per acre.
