Kokapet Neopolis Auction Sets New Land Price Record at Rs 151.25 Crore per Acre
Hyderabad: Land prices in Kokapet, located in the Gandipet mandal of Rangareddy district, have reached an unprecedented high, with a record-breaking Rs 151.25 crore per acre fetched at an e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA) on Friday. The auction was held at the prestigious Neopolis Layout, solidifying Kokapet’s status as one of the most sought-after real estate destinations in Hyderabad.
The government earned a massive Rs 1,353 crore by auctioning just 9.06 acres across two prime plots, creating significant ripples in the real estate sector. In the e-auction, Laxminarayana Company acquired Plot No. 15, measuring 4.03 acres, at the highest-ever rate of Rs 151.25 crore per acre. Godrej Properties secured Plot No. 16, spanning 5.03 acres, at Rs 147.75 crore per acre.
The base price for these plots was set at Rs 99 crore per acre. The bidding began at 11 am and extended till 6 pm, reflecting intense competition among leading developers. This sale marks the highest-ever per-acre land price in Hyderabad’s history. Just four days earlier, on November 24, land in the same Neopolis Layout (Plot No. 18) fetched Rs 137.25 crore per acre. The sharp rise to Rs 151.25 crore within days highlights the rapid appreciation of premium land in the Kokapet corridor.
Real estate experts say this will boost market sentiment and push up surrounding property values significantly. HMDA has lined up more major land auctions in the Neopolis and surrounding areas. Over 8 acres in Plots 19 and 20 will be auctioned on December 3. Another 1.98 acres in the Kokapet Golden Mile will go under the hammer on December 5. These upcoming auctions are expected to generate substantial additional revenue.
The number of applications for building permissions and layout approvals under HMDA has been steadily increasing. So far this year alone, HMDA has generated over Rs 1,000 crore in revenue. In the coming year, high-value land parcels located in Bayragiguda, Chandanagar, Puppalaguda, Bachupally, Bowrampet, Chengicherla, and Suraram across Rangareddy, Medchal–Malkajgiri, and Medak districts will be auctioned. HMDA expects these sales to generate an estimated Rs 10,000 crore in revenue.
This surge in land prices and auction revenues is a clear indicator of the growing investor confidence in Hyderabad’s real estate market. The strategic location of these plots, coupled with the government’s proactive approach in infrastructure development, is expected to further fuel the growth of the region. Real estate developers and investors are eagerly anticipating the upcoming auctions, which are likely to set new benchmarks in the coming months.
