HYDERABAD: Five days after it reaped a windfall of Rs 1,356 crore, the HMDA struck gold once again on Friday, with its latest e-auction earning Rs 1,352 crore for two land parcels in the Neopolis Layout at Kokapet. The bids reached a record Rs 151.25 crore per acre in one plot and Rs 147.75 crore per acre in the other.
Plots 15 (4.03 acres) and 16 (5.03 acres), together measuring 9.06 acres in Survey Nos. 239 and 240, brought in a combined Rs 1,352 crore. With this, the three rounds of Neopolis auctions have now realised Rs 2,708 crore.
Plot 15 was won by Lakshmi Narayana Gummadi, Karteesh Reddy Madgula, Sharat Ventrapragada and Shyam Sunder Reddy Vangala at Rs 151.25 crore per acre, against the upset price of Rs 99 crore. The total bid value was Rs 610 crore.
Plot 16 went to Godrej Properties Limited for Rs 147.75 crore per acre, well above the Rs 99 crore upset price, taking the total to Rs 743 crore.
Bidding began at 11 am and continued past 6.30 pm. The process was conducted through MSTC Limited.
Officials said the response shows steady interest in Kokapet Neopolis. The average price has now moved to Rs 142.83 crore per acre.
On November 24, plots 17 (4.59 acres) and 18 (5.31 acres) fetched Rs 1,356 crore. Plot 18 drew Rs 137.25 crore per acre from MSN Urban Ventures LLP, while Plot 17 drew Rs 136.50 crore per acre from Vajra Housing Projects LLP.
Two more plots — 19 (4 acres) and 20 (4.04 acres), totalling 8.04 acres — will be auctioned on December 3. The HMDA will also auction a 1.98-acre plot in the Golden Mile layout on December 5 and two plots in Moosapet, totalling 14.66 acres, later the same day.
EMD is Rs 5 crore per Neopolis plot
The upset prices are Rs 75 crore per acre for Moosapet and Rs 70 crore for Golden Mile.
HMDA officials said Neopolis has housing, commercial and office projects, along with a dedicated power substation and underground cabling. Each plot requires an Earnest Money Deposit of Rs 5 crore. All sites are encumbrance-free, have unlimited FSI, allow multi-purpose use and are ready for immediate construction. Officials added that buyers receive clear title and time-bound approvals through a single window.
Touching the sky
Plots 15 (4.03 acres) and 16 (5.03 acres) brought in a combined Rs 1,352 crore
With this, the three rounds of Neopolis auctions have now realised Rs 2,708 crore