Telangana: State govt earns Rs 729 Cr at Khanamet land auction

Hyderabad: A day after auctioning nearly 50 acres of land for Rs. 2,000 crore, the Telangana government today earned another Rs. 729 crore after successfully auctioning-off another 15 acres of land at Khanamet near Hitec City and the Hyderabad International Convention Centre (HICC).

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The auction was conducted online through the MSTC, which is a Govt. of India undertaking online platform, through online bidding. The minimum bid amount was kept at Rs. 25 crore per acre, with minimum bid increment of Rs. 20 lakh or its multiplies per acre, said a press note from Jayesh Ranjan, principal secretary (IT and industries).

The highest bid among the bidders was for 3.69 acres of a land parcel by GVPR Engineers Ltd, which made a bid for Rs. 185.98 crore for it. Second was by Manjeera Constructions Ltd, which bid Rs. 160.60 crore for a land parcel of 2.92 acres.

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In total, the state government earned Rs. 48.92 crore per acre on an average, hence totalling to Rs. 729 crore. A day earlier, the Telangana government earned Rs. 2000.37 crore through e-auction of prime lands in Kokapet area of the city. Telangana chief minister K. Chandrasekhar Rao on Friday also said the money earned through auction of government lands in the state will be spent for public welfare.

The state government has set a target of mobilising Rs 20,000 crore through sale of government lands during 2021-22.

Addressing a meeting at Telangana Bhavan to formally welcome former Telugu Desam Party (TDP) leader L. Ramana into his Telangana Rashtra Samithi (TRS), KCR, as the chief minister is popularly known, said Telangana has a bright future.

A mega e-auctioning of eight prime plots of 49.949 acres in Kokapet began amid tight security at HMDA head office in Ameerpet at 9 am on Thursday. The auction continued till 5 pm. HMDA held the e-auction on behalf of the Telangana government.

Minimum upset price for all the plots was fixed at Rs 25 crore per acre and the minimum bid increment was Rs 20 lakh per acre or multiples thereof. More so, plot size ranged from 1 acre to 8.94 acres. Of the eight plots, the layout named as ‘Neopolis Layout’ with seven plots (48.27 acres) will be one of the most modern developments which will present immense possibilities for developers, corporates and investors. 

Another plot in the Golden Mile layout (1.65 acres) of Kokapet has also been put up for e-auction. Even as the minimum bid was Rs 25 crore, the bids ranged from Rs 31.2 crore to Rs 60.2 crore, with a weighted average bid amount of Rs 40.05 crore per acre. The final bid of Rs 60.2 crore for plot no. 2/P (West Part) measuring 1.65 acres was the highest bid in this auction.

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Yunus Lasania

With over 9 years of experience in reporting, Yunus Lasania is a journalist who has worked with 3 national dailies in his career. He last worked as the state correspondent for Andhra Pradesh and Telangana with Mint (HT Media). With a deep love for Hyderabad and its history, he also runs the Instagram page The Hyderabad History Project, and is also the host of Beyond Charminar, a podcast series on the history of Hyderabad, focusing on the lesser known aspects of his city. Yunus is the City Editor of
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