After the resounding success of online auction of plots at Kokapet’s Neopolis layout, where it garnered ₹3,320 crore from sale of seven land parcels, the Hyderabad Metropolitan Development Authority (HMDA) has announced land auction at its Budvel layout.
A total of 14 land parcels covering an area of 100 acres have been put out on sale through e-auction to be held on August 10.
Individual plots at Budvel layout range between 3.47 acres and 14.33 acres in extent, with an upset value fixed at ₹20 crore per acre, and an incremental bid value of ₹25 lakh per acre.
The Budvel layout is very close to the Himayatsagar reservoir with only the Outer Ring Road separating them. Neopolis layout, incidentally, is in close proximity to the Osmansagar reservoir.
The highest price yielded during the online auction at Neopolis, Kokapet, was ₹100.75 crore per acre on Thursday, which is said to be a record in HMDA’s and Hyderabad’s history.
HMDA has clearly pinned its hopes for a high yield from Budvel too, going by its publicity. The publicity brochure uses the Neopolis layout as the selling point, and announces that the infrastructure at Budvel shall be on a par with Neopolis which includes roads, drain-cum-duct, underground sewerage network, and other facilities.
The accompanying photos and maps do not fail to include the twin reservoirs which are again used as an USP.
“Narrowly missed Neopolis, Kokapet? No worries, it’s your chance now,” announces the auction notification displayed on the HMDA website and shared by Special Chief Secretary Arvind Kumar from his social media account with description of the layout as ‘another greenfield workstation/city’.
