Buoyed by the emerging huge business avenues in the country's real estate sector, the Hyderabad Metropolitan Development Authority (HMDA) is conducting auction for about 200 acres of land in Kokapet and 96 plots in Uppal Bhagat and other areas of its jurisdiction. The notification for the auction of Uppal Bhagat plots is being expedited very shortly. As per the prevailing market value of land in these two areas, the metropolitan authority has aimed to net about ₹4,000 crore to ₹5,000 crore and it is going to become the biggest land auction ever conducted in the state. In Kokapet area the land value has been pegged at ₹15-20 crore per acre and the agency is expecting about ₹500 to ₹700 crore from Uppal Bhagat and other land auctions and that the civic body has aimed to amass about ₹3,000 to ₹4,000 crore from the Kokapet land auction, said official sources.
