HMDA To Auction 42 Acres Worth Rs 5000 Cr

Land auctioning is set to resume in Hyderabad. The Telangana government plans to auction land parcels in Moosapet, Banjara Hills, and Kondapur. The Hyderabad Metropolitan Development Authority aims to sell 42 acres, which could generate nearly Rs 5000 crore for the state.

The decision to auction Moosapet land was taken two months ago during the Kokapet auction. Due to public opposition, the government paused the move. Later, HMDA warned of possible land grabbing, prompting the government to approve the auction.

There is a shortage of large land parcels for major infrastructure companies in Hyderabad. Firms from both north and south India are seeking space. Earlier auctions by TGIIC and HMDA saw strong demand and rapid sales.

In previous auctions, one acre fetched Rs 155 crore in Kokapet and Rs 171 crore in Rayadurg. These figures have raised expectations. Realtors and Telangana residents are keen to see prices in Moosapet, Banjara Hills, and Kondapur.

In Moosapet, the government owns 14 acres near NH 65. It plans to auction the land in two parcels. Despite political opposition, HMDA reported repeated encroachments, leading to the final approval after local consultations.

At Banjara Hills, the government plans to sell 8.37 acres near MLA Colony. Although HMDA owns 15 acres there, most of the land is encroached. In Kondapur, the government holds 20 acres ready for auction.

In total, 42 acres across prime Hyderabad locations will soon be auctioned. The move is expected to attract major developers and boost the state’s revenue significantly.