Rs.100 cr per acre; Kokapet Neopolis layout land fetches record price

The land in Neopolis layout in Kokapet fetched a record price as an acre commanded Rs 100.75 crore. At the e-auction, the state government conducted for land at Kokapet, several reality companies competed to secure as much land as possible without minding the price. It all goes to prove how much the land is sought after in Telangana state. The BRS government executed massive infrastructure projects which resulted in land prices skyrocketing.

The State government has auctioned 45 acres in Kokapet and garnered revenue of Rs 3,319.60 crores. In Neopolis Kokapet, the HMDA auctioned a 3.6-acre prime plot on Thursday. The Happy Heights and Raj Pushpha companies bagged it at Rs 362.72 crore. This plot faces the Gandipet Lake view and is the most sought-after. It has a road on two sides and a spacious open plot and lies very nearer to Outer Ring Road which commanded an unusual price.

In the 45-acre land, as many as 210 flats could be constructed. Many city-based companies took part in the auction and bagged the plots. The price of land goes on to prove the strength of Hyderabad city, said CREDAI general secretary V Shekhar Reddy.

By Gollapudi Srinivasa Rao