HMDA earns Rs.3,623 cr at Budwel; highest bid an acre Rs. 41 cr
A total of 14 plots ranging from 3.47 Acres to 14.33 acres were auctioned off at Budwel
HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) e-auctions at Budwel on Thursday generated Rs 3,625.73 per acre, with the highest price bid being Rs 41.25 crore per acre.
Following the sales of high-value plots at Neopolis in Kokapet, HMDA held e-auctions of high-value open plots in Budwel Layout in Rajendranagar Mandal, Rangareddy district, via MSTC. The land auction was highly publicised in order to attract investors and real estate developers from Mumbai, Bangalore, and Hyderabad.
A total of 14 plots ranging from 3.47 Acres to 14.33 acres were auctioned off at Budwel, with the highest price received being Rs. 41.25 cr per acre. The fixed upset price for the total of 100 acres was Rs. 2,000.20 crores, whereas the average bid price per acre came to Rs. 36.25 crore.
The auction of 100.01 acres fetched Rs. 3,625.73 crore, with three plots bidding more than Rs 40 crore per acre.
The entire layout has been developed with modern infrastructure on a par with Neopolis in Kokapet, such as 36 and 45-metre-wide highways, and the plots were planned for high rise buildings. The layout is relatively close to the social infrastructure, and it has access to the main portions of the city via the ORR and other connecting roads.