The State government in Hyderabad is making a lot of money by selling lands in Greater Hyderabad limits. Recently, one acre of land in Budvel was sold for Rs 41.25 crore through 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 close proximity to social infrastructure and main parts of the city. A total of 14 plots ranging from 3.47 acres to 14.33 acres, covering 100.01 acres in total, were auctioned.
The highest price received for a plot was Rs 41.25 crore per acre, while the minimum price was Rs 20.20 crores per acre. On average, the bid 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 acres.
