Hyderabad and its surrounding real estate have been at an all-time high since the bifurcation, with no competition from Andhra Pradesh. Jagan’s confusion over the three-capital issue has further fueled the neighboring state’s real estate boom.
On Thursday, the Telangana government conducted an e-auction of prime plots in the prestigious Neopolis Layout at Kokapet in Hyderabad, expecting to generate revenue between Rs 2,000 crore and Rs 2,500 crore.
However, the land auction at Kokapet fetched a staggering Rs 3,319.60 Crore for the Telangana Government. A total of 45.33 acres of land were auctioned, with Bridage Enterprises purchasing the highest-priced plot for Rs 660 Cr.
The highest per acre was sold for 100.25 crores, and a single plot of 3.60 acres was sold for 360 crores. Other plots were sold at 76.5 crore per acre, with the government setting the initial bids at 35 crores.
This has sparked numerous debates among real estate agencies and agents, with the auction being the highest in the history of Hyderabad.
