Budvel land auctions fetch Rs 41.25 crore per acre

Hyderabad: The State government was raking in moolah by selling the lands in Greater Hyderabad limits. One acre of land fetched Rs 41.25 crore at Budvel where the HMDA ( Hyderabad Metropolitan Development Authority ) conducted e- auction of high value of open plots on Thursday.

Real estate developers from Mumbai, Bengaluru and Hyderabad took part in the auction and bought the lands in the Budvel layout developed with modern infrastructure. The layout is very close to the social infrastructure, connectivity to the main parts of the city through ORR and other connecting roads. Total 14 plots ranging from 3.47 acres to 14.33 acres to an extent of 100.01 acres were auctioned.

The highest price received was Rs 41.25 crore per acre. The offset price was Rs 20.20 crores per acre whereas the average bid price per acre is Rs 36.25 crore. The total revenue to be received through auction for the above plots will be Rs 3625.73 crore for 100.01 acres.