The State Government sold lands in Greater Hyderabad, earning a lot of money. The e-auction conducted by HMDA for open plots in Budwel resulted in one acre of land being sold for Rs 41.25 crore. Real estate developers from Mumbai, Bangalore, and Hyderabad participated in the auction and purchased lands in the well-developed Budwel layout. The layout is conveniently located near social infrastructure and has good connectivity to the city.
A total of 14 plots ranging from 3.47 acres to 14.33 acres were auctioned, totaling 100.01 acres. The highest price received was Rs 41.25 crore per acre, surpassing the upset price of Rs 20.20 crores per acre. The average 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 100.01 acres.
