Budwel lands are costly. fetches Rs 41.25 crore per acre

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

Real estate developers from Mumbai, Bangalore and Hyderabad took part in the auction and bought the lands in the Budwel 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 upset 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.