The State Government made a lot of money by selling lands in Greater Hyderabad. An acre of land in Budwel was sold for Rs 41.25 crore in an e-auction conducted by the HMDA. Real estate developers from Mumbai, Bangalore, and Hyderabad participated in the auction and bought lands in the Budwel layout, which has modern infrastructure and is close to social infrastructure and main city roads.
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, with an upset price of Rs 20.20 crore per acre. The average bid price per acre was Rs 36.25 crore.
The revenue from the auction of these plots will be Rs 3625.73 crore for the total of 100.01 acres.
