Hyderabad: The Hyderabad Metropolitan Development Authority earned ₹996 crore in the third phase of the Kokapet Neopolis auction, which concluded on December 3. Officials said the two plots on offer drew strong demand and surpassed the ₹99-crore reserve price.
Plot 19 secured ₹131 crore per acre, while Plot 20 drew ₹118 crore per acre. With this round, HMDA’s earnings from all three phases rose to ₹3,708 crore for 27 acres. The authority has auctioned six plots so far.
The next phase will open 29 acres in Kokapet and 15 acres in Moosapet. Officials scheduled the sale of 1.98 acres in Golden Mile Site-2 for December 5 and set a minimum price of ₹70 crore per acre. They expect final bids to cross ₹100 crore because of strong market interest.
Infrastructure upgrades support Kokapet Neopolis auction
The Neopolis layout spans 40 acres and includes modern facilities built at a cost of nearly ₹300 crore. The infrastructure includes 45-metre roads, cycling tracks, underground drainage and electric utilities. Buyers can develop commercial, residential or entertainment projects, and they face no floor-area limits.
