200-acres of land parcels being auctioned in Hyderabad
The Hyderabad Metropolitan Development Authority (HMDA) has decided to auction 200 acres of land at Kokapet in Rajendranagar Mandal, which is expected to fetch it ₹5,000 crore. The state government is keen on auctioning the land as prices currently are at a peak. The government has directed HMDA to provide infrastructure and amenities in the land parcel. The auction of 67 plots in Uppal Bhagat area has fetched ₹670 crore. Each developed parcel will be of 5-15 acres and is suitable for IT firms and big business houses. Municipal administration officials said of the 630 acres, around 350 acres has been sold or allotted to various departments and organizations by the state government and only 280 acres are left. After development of the land with a mandatory space for various amenities, the net plotted land will be around 200 acres, said an official spokesperson.
📅Published on:
22 August 2019
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