Overview
- At the Nov. 28 e-auction in Kokapet’s Neopolis, Plot 15 (4.03 acres) drew the top bid of ₹151.25 crore per acre, while Plot 16 (5.03 acres) fetched ₹147.75 crore per acre.
- Plot 15 was won by a four-member consortium of Lakshmi Narayana Gummadi, Karteesh Reddy Madgula, Sharat Ventrapragada and Shyam Sunder Reddy Vangala, and Plot 16 was secured by Godrej Properties.
- The two plots generated ₹1,352 crore for the Telangana government, taking cumulative Neopolis auction receipts to ₹2,708 crore across the recent rounds.
- Average realisation at Neopolis has climbed to ₹142.83 crore per acre, up from about ₹73 crore two years ago, underscoring a sharp repricing of Hyderabad land.
- Bidding ran from 11 a.m. past 6:30 p.m. with reserve prices set at ₹99 crore per acre for the multi-use plots, and HMDA has slated further e-auctions on Dec. 3 (Neopolis) and Dec. 5 (Golden Mile).