HYDERABAD: The cash-strapped Telangana government has hit the jackpot. The mega e-auction of prime lands at Kokapet in Hyderabad held on Thursday fetched Telangana a record Rs 2,000 crore.
The successful auction indicated that Covid-19 had not deterred bidders, who came forward to bag the seven plots in the ‘Neopolis’ layout and another in the ‘Golden Mile’ layout.
Many developers and builders took part in the e-auction to lay their hands on the parcels of the land, which are expected to bring them big returns.
The response from the market is also an affirmation that Hyderabad is one of the most happening cities in the country and a choice for investments, particularly for the real estate sector. “The investors have reposed faith yet again in governance led by Chief Minister K Chandrasekhar Rao. Hyderabad and Telangana are clearly number one choice and destination for investors [sic],” MAUD Principal Secretary Arvind Kumar tweeted.