Hyderabad: In the position of Semen Hyderabad as the main real estate hotspot in the country, the Metropolitan Development Authority Hyderabad (HMDA) produces Rs 2,000 Crore on Thursday from auction made for eight land parcels in Kokapet.
Supported by recorded prices taken at the auction, senior government officials said Thursday’s auction was Hyderabad’s affirmation that appeared as the most preferred goal for investment and for real estate development.
They said the auction received an extraordinary response from the bidder.
E-Auction is held for the neopolis layout in Kokapet.
While the upset prices set by the government are Rs 25 Crore per Acre, one of the bidders secured land parcels Acre quoted Rs 60 Crore.
The lowest number of offers quoted is Rs 31 Crore A hectares.
Overall, the total RS 2,000.37 Crore produced from auction.
Officials said even when the annoyed number of offers was Rs 25 Crore per Acre, offers ranged from Rs 31.2 Crore per Acre to Rs 60.2 Crore per Acre with the average bid of the average Rs 40.05 Crore per Acre.
Among the successful bidders for eight land parcels, seven packages are guaranteed by real estate companies and developers such as Rajusaphpa Property Private Ltd, Rajapuspa Realty LLP, Aqua Space Developers Pvt Ltd, Prestige Estates Projects Ltd, HYMA Developers Private Ltd and Personal Education Management Ltd The other offer by Satyanarayana Reddy Manne, who participated in their respective capacity and secured a plot for RS 335 Crore.
Reddy is reported to have a pharmaceutical company.
Rajusaphpa Realty appeared as a successful bidder for a small plot in the form of 1.65 hectares sold for 60.2 crore per acre.
The biggest 8.9 hectare plot was secured by the Aqua Space Developer at Rs 39.2 Crore per Acre.
The same group also secured another plot in the form of 7.73 hectares at RS 36 Crore per Acre.
Auction for 49 hectares is done online on the MSTC platform in two sessions.
In each session, four plots are prepared for auctioned.
There is an increase in the minimum bid of Rs 20 Lakh or its multiples per acre.
The main secretary of the City Government Arvind Kumar said the auction had reaffirmed Hyderabad as the number one center for development in this country.
“The extraordinary response from the market is an indication of stature of Hyderabad growth as a preferred goal for investment and to create employment opportunities,” he said.
P Sreenivas Reddy, Executive Director of the Rajapaphpa property, said: “We already have a land package of four acres next to 1.67 hectares that we bought in the Golden Mile project.
We have to buy the land so we can get a wide road around it for our new project .
“The company buys another plot in the Necropolis layout.
Prestige Group Hyderabad Senior Vice President (Business Operation) R Suresh Kumar said: “We are sure of this location because HMDA has promised to develop infrastructure.
It also borders the Gandipet lake which adds value to it.
Our project here will be one of the best .
“In 2006, HMDA had swept the 1,680 crore rs of a land auction in the Kokapet Golden Mile project.
(With input from Sudiptopa Sengupta)
Land Auction Kokapet Hit, HMDA Nets RS 2K Crore
