Rs 115 Cr Per Acre: Hyd’s Kokapet Real Estate Is Firing!

Hyderabad is one of the strongest real estate markets in India and the fact that the city is witnessing a positive sale index while other metro cities like Mumbai, Chennai, Bengaluru, and others have been going down as an indication of the same.

Now this is being reinstated by the latest real estate moment in Hyderabad, and let us have a look into the same.

The Hyderabad Metropolitan Development Authority conducted e-auctions on September 9 for plots in the Neopolis layout and Golden Mile Site-1 in the fast developing Kokapet region.

The Golden Mile Site-1 plot, spread across 0.70 acre, received the highest bid of ₹115 crore per acre and this comes after the HMDA had fixed the proposed upset price for the plot at ₹70 crore per acre.

This makes it clear that the bid was ₹45 crore above the proposed upset price and this is a strong hint at the continued demand for land parcels in Kokapet and other parts of western Hyderabad.

On top of this, there is this one bid that was placed for Neopolis layout, Plot No. 17, spread across 4.59 acres, where bidder quoted ₹120 crore per acre for the plot.

The Neopolis and golden mile region in the western part of Hyderabad have been witnessing peak, move and in terms of real estate market. The fact that hundreds of crores are being bid for single acre of land is very clearly indicative of the same.