Buoyed by super hit at Kokapet Neopolis auctions, HMDA notifies auction at Budwel

HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) issued a notification on Friday for an e-auction of plots in Budwel, following a recent auction in which Kokapet land sales fetched a record Rs. 100 crore per acre.

The HMDA plans to hold an e-auction of 14 available plots in Budwel, Telangana, on August 10, 2023, and a pre-bidding meeting on August 6, 2023. The deadline for registering for open plots is August 8, 2023.

Telangana Chief Minister K Chandrashekar Rao said the sale of land for Rs.100.75 crore per acre represents the State’s exemplary growth. The purchase of land by world-class enterprises at such a high price should be assessed not only economically, but also in terms of Telangana's future, he said.

He said that the Hyderabad development index was proof of the city's development, as well as that land prices were a slap in the face to those who insulted Hyderabad's self-esteem by spreading propaganda that the city would lose its sheen and land prices would fall if Telangana attained Statehood. It was the outcome of the State government's perseverance in pushing villages and towns on the path of progress, with a strong desire to promote Hyderabad as a cosmopolitan city, he said.

The Chief Minister also congratulated HMDA officials, MAUD Minister KT Rama Rao, and HMDA Metropolitan Commissioner and MAUD Special Chief Secretary Arvind Kumar for their contributions to Hyderabad's development.