Hyderabad: The proximity to the IT corridor, Hyderabad International Airport and Outer Ring Road (ORR) coupled with fully developed infrastructure facilities, has turned Kokapet to be a far away location for investors.
Even the Telangana Government has chosen Kokapet to auction of land because it is home to most government land.
Officials of the Metropolitan Development Authority Hyderabad (HMDA) said Kokapet was land ‘tested’ for auction with the government sweeping 1,680 crore from the Golden Mile project land auction held in 2006.
However, HMDA could not obtain the entire number later because of several legal struggles more than 634 hectares of land.
The land package now stands in a clear place.
While several companies bid 14.5 crore per hectare 15 years ago, HMDA and Telangana State Industrial Infrastructure Corporation (TSIIC) hope to get double the minimum number for 64 hectares that have been included for sale in Kokapet.
“Being a Green-Field, Neopolis, Kokapet project, where auction is being held, will be the most advanced and well-developed cities possible in this country with the best infrastructure facilities.
Planning has been done in futuristic,” said Arvind Kumar, the main secretary, administration City and Urban Development Department.
Explaining its superiority, HMDA officials said Kokapet had witnessed rapid growth over the past decade because only about five km from the Finance District and seven Km from Gachibowli.
It is well connected to other parts of the city also through ORR and the airport is only 30 to 35 minutes drive.
Also close to various educational institutions and health care.
The government also proposed Metro Connectivity, said Tsic officials.
Furthermore, they show how the surrounding area has also developed and has become a real estate center with massive housing investments that come in areas such as Mokila, Kollapur and Tellapur, which is now being mentioned as the Greenfield residential area.
“Kokapet auction is the last chance to get the main land near the Financial District before the market moves further west to the Kollur area.
Apart from this, Kokapet is also a destination for the commercial market and upscale housing.
Financial District Infrastructure and FSI without limits to make Kokapet Interesting is supported by potential work, “said GV Rao, President of the Telangana developer association.
Officials analyze Kokapet’s growth in two phases.
One between 2005 and 2014 and another post in 2014 after Thration from Telangana.
“Between 2005 and 2014, the government has given land to a prominent company, which is produced as an organic extension of Madhapur and converts it into an established real estate market.
After, 2014 has become saturation of land in the Hitec-City and Financial regions and debut requests to the region Southwestern.
Now, regional and national level developers have taken projects (housing and commercial) in Kokapet, “said a senior official Wing Estate Hmda.