After Raidurg boom, HMDA banks on Neopolis auctions for Rs 2k cr haul | Hyderabad News

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) is eyeing significant revenue from its latest round of land auctions, with prime parcels in Kokapet, Raidurg, Banjara Hills and other fast-growing locations across the city set to go under the hammer next month.After the Telangana Industrial Infrastructure Corporation fetched record-breaking prices in a series of land auctions at Raidurg, the HMDA is returning to the market with a fresh round of auctions, led by prime parcels in its revenue-generating Neopolis layout at Kokapet. The civic body expects to raise around Rs 2,000 crore from the auction of 114 land parcels across various locations, with Neopolis expected to be the biggest draw for investors and developers.For a 4.59-acre land parcel (plot No. 17) in the Neopolis layout, HMDA has fixed a reserve price of Rs 120 crore. Another 3.15-acre parcel in Moosapet, near Kukatpally, has been priced at Rs 99 crore. In previous land auctions in Neopolis, HMDA earned between Rs 4,000 crore and Rs 5,000 crore.Apart from these two prime properties, the metropolitan authority has notified the auction of an 8,591-square yard parcel, nearly two acres, in Kokapet and a 1,815-square yard plot in Raidurg Naukhalsa village. The reserve prices have been fixed at Rs 1.50 lakh and Rs 1.75 lakh per square yard, respectively.In Hakeempet village (survey No. 102/1) in Banjara Hills, a parcel that had earlier drawn objections from the Yamuna Nagar Society, HMDA has now notified eight plots ranging from 1,084 sq yards to 1,437 sq yards, with a reserve price of Rs 2 lakh per sq yard.In its June notification, HMDA had proposed the auction of eight acres in the same survey number at a reserve price of Rs 99 crore per acre. However, the process was stalled after the society alleged an overlap with its land holdings. The revenue department denied the allegations.Besides the Banjara Hills property, HMDA has also put up 50 plots in the Bachupally layout and 45 plots in the Inmul Narva layout, along with parcels in Ameenpur, Kapra, Suraram and other localities.Excluding the Banjara Hills land, the highest reserve price among the notified plots is Rs 55,000 per sq yard, while the lowest is Rs 15,000 per sq yard in the Inmul Narva layout. The auctions are scheduled to be held on Nov 12, 20, 23, 25 and 27.