₹ 100 Crore Per Acre Is New Record For Telangana Land Prices
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The highest bid for the 3.6-acre plot in Kokapet was ₹ 362 crore, made by Rajapushpa Properties Private Limited for Happi Heights Neopolis. The auction of the seven land parcels spanning 45.33 acres at Neopolis layout raised ₹ 3,320 crore. Hyderabad: A plot near Hyderabad sold for a whopping ₹ 100 crore per acre at an online auction, setting a new record for land prices in Telangana. The highest bid for the 3.6-acre plot in Kokapet was ₹ 362 crore, made by Rajapushpa Properties Private Limited for Happi Heights Neopolis. The auction of the seven land parcels spanning 45.33 acres at Neopolis layout raised ₹ 3,320 crore for Hyderabad Metropolitan Development Authority. The average bid was ₹ 73.23 crore per acre and the lowest being ₹ 67.25 crore. The highest bid did not cross ₹ 60 crore during Phase-I of the Neopolis auction in July 2021 when 49 acres were sold. The average was around ₹ 40 crore. Arvind Kumar, Telangana's special chief secretary for Urban Infrastructure and Dev