Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) is set to bring several premium land parcels under the hammer, with the upcoming auction highlighting the continued strength of Hyderabad’s prime real estate market.
The biggest attention is on Neopolis in Kokapet, where the upcoming auction has set a minimum upset price of ₹120 crore per acre. The floor price is significantly higher than the ₹99 crore per acre upset price fixed in the previous auction around seven months ago.
₹120 Crore vs ₹99 Crore per Acre
The new Neopolis upset price of ₹120 crore per acre represents an increase of around 21.2% over the earlier ₹99 crore per acre floor price.
However, the new floor remains below the previous record sale price of ₹151.25 crore per acre, which means the ₹120 crore benchmark is around 20.7% lower than that record.
The latest upset price indicates the government’s assessment of the current minimum value for the premium Neopolis land being offered through the auction.
Premium Land Parcels Across Hyderabad
Apart from Neopolis, HMDA is also putting other strategically located parcels up for auction. Land in the Golden Mile area of Kokapet has an indicated minimum price of around ₹70 crore per acre, while other prime parcels have upset prices ranging from approximately ₹35,000 to ₹75,000 per square yard.
At Inmulnarva, around 60 plots are also proposed to be auctioned, with prices starting from approximately ₹15,000 per square yard.
The auction window is scheduled to begin on August 24 and continue into September, according to the auction details.
The latest auction is expected to draw strong interest from developers and investors, particularly for the premium Neopolis and Kokapet parcels, as Hyderabad continues to see strong demand for strategically located commercial and mixed-use land.
