Hyderabad: Land in Kokapet, on the outskirts of Hyderabad, has fetched a record price at auction, with an acre selling for Rs 137.25 crore. The auction covered Survey Numbers 17 and 18 in the Neopolis layout, with Survey Number 17 achieving the record price.
The Telangana government had recently issued a notification to auction lands within the HMDA limits. Earlier, the Telangana Industrial Infrastructure Corporation (TGIIC) conducted an auction in Rayadurg, where 7.67 acres were acquired by a single entity for Rs 1,357 crore. The base price per acre in that auction was set at Rs 101 crore, but competitive bidding pushed the price up to Rs 177 crore per acre.
Following that, HMDA conducted the recent auction for lands in Survey Numbers 17 and 18 of Kokapet Neopolis. The base price was set at Rs 99 crore per acre, but competitive bidding drove the price to Rs 137.25 crore per acre, setting a new benchmark for land prices in Hyderabad’s outskirts.
The high demand for prime plots in areas like Kokapet reflects the growing real estate interest in Hyderabad’s peripheral zones and underscores the city’s status as a key investment hub.