HYDERABAD: The State government will conduct an e-auction of seven prime plots developed in the prestigious Neopolis Layout at Kokapet in Hyderabad on Thursday, expecting to generate revenue between Rs 2,000 crore and Rs 2,500 crore. The layout spread over 45.33 acres with well-developed infrastructure, will be e-auctioned by the Hyderabad Metropolitan Development Authority (HMDA), acting on behalf of the State government.
The HMDA had also conducted the first phase of the Kokapet e-auction on July 16, 2021, at the peak of the Covid-19 pandemic, generating Rs 2,000.37 crore raked in from eight land parcels, spanning 49.949 acres, through e-auctions. Corporate companies, healthcare organisations, and other entities purchased these plots, with construction activities already underway on some of them.
Neopolis, an upscale modern layout brimming with potential for developers, corporates, and investors, has been endowed with essential infrastructure valued at Rs 350 crore. This includes well-constructed roads, water and sewerage lines, streetlights, parks, and other amenities, making it a desirable location for business and residential ventures.
In phase-2 of the e-auction, seven prime plots ranging from 3.60 acres to 9.71 acres, totalling 45.33 acres, are up for grabs. HMDA has entrusted the e-auction process to MSTC Limited, a Government of India enterprise. The auction will take place in two sessions on August 3, with the first session from 11 am to 2 pm, followed by the second session from 3 PM to 6 PM.
Following the success of the Phase-I auction, where record prices were fetched for the land parcels, Hyderabad has emerged as a favoured destination for investments, job creation, and real estate development. Multinational companies, major corporations, institutions, and leading firms have all set their sights on Hyderabad as a prime investment hub.
HMDA officials said that Kokapet Neopolis is a role model for focused development and sustainable growth. The projects underway in the area encompass high-quality housing, commercial buildings, shopping centres, offices, and more. Additionally, the layout boasts a dedicated electric power substation with underground cables for enhanced efficiency and aesthetics.
The upset price for each acre has been fixed at a minimum of Rs 35 crore, with an increment bid of Rs 25 lakh per square yard or multiples thereof. Notably, during the Phase-1 auction in 2021, the minimum upset price was Rs 30 crore per acre, with an increment bid of Rs 20 lakh per square yard.
Potential buyers can rest assured that all plots are free from encumbrances and litigation, offer unlimited FSI (Floor Space Index), and are designated for multi-purpose use.
The excellent road connectivity and immediate construction readiness further enhance their appeal. Crucially, the plots guarantee 100 per cent clear and assured title of government land, entailing absolute ownership and expedited approvals through a single window.
During the Phase-I auction, the bids ranged from Rs 31.20 crore to Rs 60.20 crore per acre, with an average bid amount of Rs 40.05 crore per acre, far exceeding the initial upset bid amount of Rs 25 crore per acre.