The State government in Hyderabad is making a lot of money by selling lands in the Greater Hyderabad area. Recently, one acre of land was sold for Rs 41.25 crore at Budvel during an e-auction conducted by the HMDA (Hyderabad Metropolitan Development Authority).
Real estate developers from Mumbai, Bengaluru, and Hyderabad participated in the auction and purchased lands in the Budvel layout, which has modern infrastructure and is conveniently located near social amenities and main roads like ORR. A total of 14 plots ranging from 3.47 acres to 14.33 acres were auctioned, covering a total area of 100.01 acres.
The highest price achieved during the auction was Rs 41.25 crore per acre, while the minimum bidding price was Rs 20.20 crores per acre. On average, the bidding price per acre was Rs 36.25 crore. The total revenue expected from the auction of these plots is Rs 3625.73 crore for the 100.01-acre area.
