Hyderabad: E-auctions of Kokapet, Budvel lands receive highest response

Hyderabad : The Hyderabad Metropolitan Development Authority (HMDA) has held e-auctions for a number of plots in Kokapet, Budvel and so on following recent successful e-auctions as an agent of Government of Telangana as per the instructions from the Government from time to time.

The various-sized acres of the land parcels were divided into plots for multipurpose use zones with permission for high rise buildings and unlimited FSI. The overwhelming results of bids for multiple land parcels of various sizes in prime locations have been recorded with the highest response registered to be as high as Rs 100.75 Cr per acre in Kokapet. Budvel layout have received as higher as Rs 41.75 Cr per acre.

Seven plots totalling 45.33 acres were offered for e-auction in Kokapet on August 3, 2023. The size of these plots varied from 3.60 acres to 9.71 acres. The entire offered area was sold for a total of Rs 3319.60 crore, which is an average of Rs 73.23 crore per acre. Similar to this, the complete acreage i.e., 100-01 acres offered at the Budvel auction on August 10, 2023 was sold for a total of Rs 3625.73 crore at an average of Rs 36.25 crore.

For Kokapet and Budvel, the H1 bidders have made their payments on time and in accordance with the payment schedule. However, in the Mokila layout, where modest plots were put up for auction and bought by members of the middle class specifically as individual purchases, the payment is a little tardy and not receiving within the stipulated time because of different factors, including the delay in loan sanctioning.