5 months ago
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Kokapet is turning retired to beryllium the hottest barroom successful the existent property marketplace and a aureate goose for the Telangana authorities that keeps giving, with realtors shattering each the erstwhile records to stake a luck connected the country abutting Outer Ring Road.
Within 3 days of the erstwhile auction astatine Neopolis layout, wherever it had breached the earlier grounds of terms received successful onshore auction, the Hyderabad Metropolitan Development Authority (HMDA) has pulled disconnected an encore of the feat, by mounting different grounds successful realty prices.
Surpassing the erstwhile highest bid of ₹137.25 crore per acre, the latest circular of auctions astatine Neopolis, Kokapet connected Friday has realised the maximum bid of ₹151.25 crore per acre, for a crippled measuring 4.03 acres. Four individuals Lakshmi Narayana Gummadi, Karteesh Reddy Madgula, Sharat Ventrapragada and Shyam Sunder Reddy Vangala bagged the deal.
The 2nd highest bid was ₹147.75 crore, for different crippled measuring 5.03 acres, which was secured by Godrej Properties Limited.
Together, the 2 plots generated ₹1352 crore gross for the Telangana authorities and added important momentum to the ongoing auction series, a connection from HMDA said. Besides, the mean terms realisation per acre has been tossed to ₹142.83 crore astatine the layout from ₹73 crore recorded conscionable 2 years ago.
When combined with the gross from the caller archetypal circular of auctions, the bounty realised from the Neopolis auctions present stands astatine ₹2708 crore. One much circular of auctions is scheduled astatine Neopolis connected December 3, and astatine Golden Mile, besides astatine Kokapet, connected December 5.
