Land prices in Hyderabad jumped sharply during the HMDA Neopolis layout auction in Kokapet on Monday. Developers entered the bidding with strong interest, and they quickly pushed rates beyond the base price of ₹99 crore per acre. As the competition intensified, the highest bid reached ₹137.25 crore per acre. This surge clearly shows the growing strength of the city’s real estate market.
Vajra Housing Projects LLP bought Plot No.17, which covers 4.59 acres, for ₹136.50 crore per acre. MSN Urban Ventures LLP secured Plot No.18, spread across 5.31 acres, for ₹137.25 crore per acre. In comparison, the 2023 auction averaged only ₹73 crore per acre. Therefore, the latest results highlight an 87% rise in land value. The government earned ₹1,356 crore from just these two plots, which reflects strong investor confidence.
Ten national and local developers took part in the online auction on the MSTC portal from 11 AM to 2 PM. Their aggressive bidding brought fresh attention to Hyderabad’s premium property segment. Moreover, officials stated that the city once again proved its dominance in the real estate sector.
HMDA will auction the remaining four Neopolis plots on November 28 and December 3. Additionally, it will conduct auctions for Gold Mine layout plots in Kokapet and 15 acres in Moosapet on December 5. Real estate groups expect similar record prices, and HMDA Commissioner Sarfaraz Ahmed welcomed the strong participation.
