Telangana government earns Rs 729 crore in Khanamet land auction

Kokapet, Khanamet land auctions fetched a total of Rs 2,729.78 crore; Response to e-auctions reflects steady growth of Hyd: Jayesh Ranjan

Published: 17th July 2021 09:43 AM  |   Last Updated: 17th July 2021 09:43 AM   |  A+A-

land encroachment, land acquisition, land e auction

For representational purposes

By Express News Service

HYDERABAD: A day after generating Rs 2,000 crore through mega e-auction of prime lands in Kokapet, the State government hit another jackpot on Friday when it earned Rs 729.41 crore by auctioning land parcels in Khanamet.The Telangana State Industrial Infrastructure Corporation Ltd (TSIIC), on behalf of the State government, has taken up the auction of government land parcels to the extent of 14.91 acres at Khanamet village near Hitex Exhibition Centre. The auction was conducted online on MSTC platform. The minimum bid amount was Rs 25 crore per acre with minimum bid increment of Rs 20 lakh or its multiples per acre. 

There were five plots available for bidding through e-auction platform of MSTC Limited. Although the upset bid amount was Rs 25 crore per acre, the bids ranged from Rs 43.60 crore per acre with average bid amount of Rs 48.92 crore per acre. The final bid of Rs 55 crore per acre for plot No. 14 measuring 2.92 acres is the highest bid during the auction. The selected bids were Linkwell Telesystems Pvt Ltd (3.15 acres, Rs 153.09 cr), Uptown Life Projects Pvt Ltd (3.15 acres, Rs 137 crore), GVPR Engineers Ltd (3.69 acres, Rs 185.98 cr), Manjeera Constructions Ltd (2.92 acres, Rs 160.60 cr) and Linkwell Telesystems Pvt Ltd (2 acres, Rs 92.40 cr).

The Kokapet and Khanamet land auctions fetched a total of Rs 2,729.78 crore from 13 plots for the State government, which earlier estimated to generate Rs 2,500 crore to Rs 3,000 crore.Jayesh Ranjan, Principal Secretary of Industries & Commerce, said that the tremendous response to these e-auctions reflects the steady growth and development of Hyderabad and reassures, strengthens the stability and the positive growth established in the few last years.

The State government called bids for sale of certain government land parcels on ‘as is where is basis’ in Rangareddy district and appointed TSIIC as nodal agency for the purpose vide G.O. Ms.No.191, Revenue (Assignment-I) Department.



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