Telangana gets Rs 2,000 crore in Kokapet land sale

Hyderabad: The State government has garnered Rs 2,000.37 crore in the e-auction of eight plots measuring 49.951 acres of HMDA lands at Kokapet in competitive bidding.

The government after getting a green signal from the High Court took up the auction on Thursday. The e-auction was taken up by the MSTC India. According to HMDA officials, the price per acre in the auction was between Rs 31.2 crore and Rs 60.2 crore.

On an average, the bidders spent Rs 40.05 crore per acre in the auction. The plot number 2/P West Part measuring Rs 1.65 acres was quoted highest with Rs 60.2 crore by the Rajapushpa Realty LLP.

To overcome the losses due to corona pandemic, the state government had decided to sell lands and mop up revenue. The government would take up the second round of auction of 14.92 acres of land at Khanamet on Friday.

The government fixed an upset price of Rs 25 crore per acre in Kokapet, which is near to the IT and ITES companies and closer to the outer ring road.

With the government offering lands with clear titles without litigations, these lands have turned out to be hot cakes.

During the morning session, in Neopolis layout of the HMDA plot numbers 1, 2, 3 and 12 were taken up for auction in which both national and international bidders participated. During the afternoon session plot numbers 4, 13, A, 2/P were taken up for the auction in the Golden Mile layout. Each of the bidders was given a unique ID and password for taking part in the e-auction after a deposit of Rs 5 crore.