telangana government conducted the e-auction of Kokapet prime lands in hyderabad and everyone was taken by surprise from the revenue generated through the auction as land reaped gold for the government.
The hyderabad Metropolitan Development Authority (HMDA) on thursday earned a whopping Rs 2,000 crore through auctioning of 49.949 acres of government land. The auction smashed all previous records as one acre of land was sold for Rs 60.2 crore, the highest price quoted.
The government had quoted Rs 25 crore per acre as minimum price at the begining of the auction. During the auction, the State government fetched Rs 40.05 crore per acre on an average. The auction took place virtually at HMDA's head office in Ameerpet. The process of auction continued from 9 AM to 5 PM.
A total of eight giant plots were auctioned. Out of the eight plots, seven plots belonged to Neopolis Layout which are spread in 48.27 acres, the other plot belongs to Golen Mile layout.
After the Kokapet land auction, the State government is looking forward to e-auctioning of Khanampet lands which are spread across 15.01 acres. Khanampet lands will be auctioned by the telangana State Industrial Infrastructure Corporation (TSIIC).
The hyderabad Metropolitan Development Authority (HMDA) on thursday earned a whopping Rs 2,000 crore through auctioning of 49.949 acres of government land. The auction smashed all previous records as one acre of land was sold for Rs 60.2 crore, the highest price quoted.
The government had quoted Rs 25 crore per acre as minimum price at the begining of the auction. During the auction, the State government fetched Rs 40.05 crore per acre on an average. The auction took place virtually at HMDA's head office in Ameerpet. The process of auction continued from 9 AM to 5 PM.
A total of eight giant plots were auctioned. Out of the eight plots, seven plots belonged to Neopolis Layout which are spread in 48.27 acres, the other plot belongs to Golen Mile layout.
After the Kokapet land auction, the State government is looking forward to e-auctioning of Khanampet lands which are spread across 15.01 acres. Khanampet lands will be auctioned by the telangana State Industrial Infrastructure Corporation (TSIIC).
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