Neopolis e-auction sets new benchmark, land hits ₹151.25 crore per acre
HYDERABAD: Neopolis continued its record-breaking run on November 29 as a 4.03-acre land parcel fetched ₹151.25 crore per acre, taking the total bid value to about ₹609 crore. A second plot measuring 5.03 acres drew ₹147.75 crore per acre, together contributing ₹1,352 crore to the Hyderabad Metropolitan Development Authority’s (HMDA) revenue.
During the previous round of e-auctions on November 24, the highest bid stood at ₹137 crore per acre.
HMDA crosses ₹2,700 crore revenue mark this week
The 4.03-acre plot (No. 15) was jointly secured by Lakshmi Narayana Gummadi, Karteesh Reddy Madgula, Sharat Ventrapragada and Shyam Sunder Reddy Vangala. Godrej Properties Limited bagged plot No. 16.
With Friday’s receipts, HMDA’s cumulative earnings from Neopolis auctions held this week have touched ₹2,708 crore.
“It is an extraordinary outcome that surpasses the remarkable results achieved in the first round on November 24,” said metropolitan commissioner Sarfaraz Ahmad. “With valuations rising sharply and competition intensifying, Neopolis has now established itself among the highest-value urban land destinations in India.”
Steepest value surge in Hyderabad land market
Officials said the latest bids have pushed the average land value in the layout to ₹142.83 crore per acre, marking one of the steepest upward movements in Hyderabad’s real-estate market. They added that the results reaffirm Neopolis as a preferred destination for leading national and regional developers.
More auctions lined up in Neopolis and Golden Mile
The next round of auctions will be held on December 3 at Neopolis and December 5 at Golden Mile, with officials expecting similarly strong participation.
HMDA has issued notifications for auctioning about 44 acres in Kokapet and Moosapet. The authority has fixed an upset price of ₹99 crore per acre in Neopolis, ₹70 crore per acre in the Golden Mile layout at Kokapet and ₹75 crore per acre in Moosapet. In earlier auctions, parcels in these areas fetched up to ₹100 crore per acre.
