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Hyderabad: Kokapet lands going once, twice...sold!

A single plot in the ‘Golden Mile’ layout was gobbled up for Rs 60.2 crore as against the upset price of Rs 25 crore. Its proud owner is now Rajapushpa Realty LLP.

Published: 16th July 2021 09:08 AM  |   Last Updated: 16th July 2021 09:08 AM   |  A+A-

land encroachment, land acquisition, land e auction

For representational purposes

By Express News Service

HYDERABAD: The e-auctioning of prime lands in Kokapet on Thursday offered a much-needed fillip to the Telangana government. 

A single plot in the ‘Golden Mile’ layout was gobbled up for Rs 60.2 crore as against the upset price of Rs 25 crore. Its proud owner is now Rajapushpa Realty LLP.

Another plot measuring 1.65 acre fetched Rs 99.33 crore for the government. While Plot-2 in the ‘Neopolis’ layout was sold at Rs 42.40 crore as against the upset price of Rs 25 crore per acre, another parcel of land measuring 7.755 acres was bagged by Rajapushpa Properties Private Limited for Rs 328.81 crore.

The Hyderabad Metropolitan Development Authority (HMDA), on behalf of the Telangana government, undertook the auction of government lands to the extent of 49.949 acres at Neopolis layout (7 plots) and Golden Mile (one plot) in Kokapet abutting the Financial District. The auction was conducted online on the MSTC platform. The minimum bid amount was set at Rs 25 crore per acre with a minimum bid increment of Rs 20 lakh or its multiples per acre.

Even as the upset bid amount was Rs 25 crore per acre, the bids ranged from Rs 31.20 per acre to Rs 60.20 per acre with a weighted average bid amount of Rs 40.05 per acre. The final bid of Rs 60.20 per acre for plot No. 2/P (West Part) measuring 1.65 acres is the highest ever. Overall, a total of Rs 2,000.37 crore was generated through this auction.The auction was done in two sessions. In the first session, four plots measuring a total of 30.778 acres were put up for bidding and in the second session, another four plots measuring 19.171 acres were put on auction.

The selected bids were made by Satyanarayana Reddy Manne (7.721 acres, Rs 325.83 crore), Rajapushpa Properties Private Ltd (7.755 acres, Rs 328.81 crore), Aqua Space Developers Private Limited (7.738 acre, Rs 281.66 crore), Prestige Estates Projects Limited (7.564 acres, Rs 285.92 cr), Aqua Space Developers Private Limited (8.946 acres, Rs 350.68 crore), Varsity Education Management Private Limited (7.575 acres, Rs 296.94 cr), Hyma Developers Private Ltd (one acre, Rs 31.20 cr), Rajapushpa Realty LLP (1.65 acres, Rs 99.33 cr). Sources said that the Neopolis project assured 100 per cent clear title of the government land, absolute ownership of the land, time-bound and fast-tracked approvals through a single window system, unlimited floor space index (FSI), multiple-use zone for office space, IT, residential, institutional, commercial and mixed-use.

MIN BID AMOUNT SET AT Rs 25 CRORE PER ACRE

The HMDA, on behalf of the Telangana government, undertook the auction of government lands to the extent of 49.949 acres at Neopolis layout (7 plots) and Golden Mile (one plot) in Kokapet abutting the Financial District. Auction was conducted online on the MSTC platform. The minimum bid amount was set at Rs 25 crore per acre with a minimum bid increment of Rs 20 lakh or its multiples per acre



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