The Kokapet Neopolis lands have once again crossed record levels. HMDA conducted the auction of two land parcels on Friday, with Plots 15 and 16 placed in the e auction.
Under Plot 15, one acre has already been sold for Rs 151.25 crore. The e auction for Plot 16 is still ongoing, and officials expect another record price. Last week, Plots 17 and 18 were auctioned, with each acre going for Rs 137.25 crore.
Recently, in Rayadurgam, one acre in TGIIC lands was sold for Rs 177 crore, even though the starting price was Rs 99 crore. In Neopolis, one acre had gone for Rs 73 crore in 2023. Compared to that, the current price is 87 percent higher.
The rising prices show strong investor confidence in Neopolis. The government is set to earn huge revenues from these auctions. Kokapet is expected to grow into one of the costliest neighbourhoods in the country in the coming years, making Kokapet Neopolis a prime attraction for leading realtors.
