HMDA Prepares Third Phase of Neopolis Land Sale in Kokapet, Expected to Fetch Rs 3,000 Crore

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) is set to launch the third phase of land sales in the premium Neopolis Layout at Kokapet, a move expected to generate massive revenue for the government. This comes after the overwhelming response received in the recent TGIIC land auction at Rayadurgam, prompting officials to put over 25 acres of Kokapet and Neopolis land on sale.

The previous phases of Neopolis and Kokapet land sales have already attracted significant attention from top developers and investors. In the second phase of Neopolis, an acre was sold for a record Rs 100.75 crore through online bidding, and this third phase is projected to generate up to Rs 3,000 crore for 25 acres. The auction notification is expected in early November, with bidding likely scheduled for the last week of the month.

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HMDA’s first phase of land sales in Kokapet Neopolis in June 2021, covering 64 acres, fetched over Rs 2,000 crore. The second phase in August 2023, spanning 45.33 acres, generated around Rs 3,300 crore. Officials anticipate prices in the current phase could reach Rs 100 crore per acre given the rising demand.

Strategically located on the western edge of the city, Kokapet has become a hotspot for high-rise developments and international investment. Neopolis, situated just 5 km from the Outer Ring Road and close to Rayadurgam, is designed with modern infrastructure and unrestricted floor heights for high-rise construction. This has attracted competition among prominent real estate developers, both domestic and international.

The layout, developed by HMDA at a cost of Rs 300 crore over approximately 40 acres, includes 45-meter and 36-meter wide internal roads, cycle tracks, footpaths, underground drainage, electricity, and other essential facilities. The plots in the upcoming phase range from 3.60 acres to 9.71 acres, catering to commercial, residential, and entertainment projects alike.

With its elevation of 588 meters above sea level, Neopolis offers excellent connectivity, just 2 minutes from the Outer Ring Road, 5 minutes to the Financial District, and around 20 minutes to both the airport and Hi-Tech City.

As HMDA gears up for this third phase, Kokapet and Neopolis are poised to remain the city’s most sought-after hubs for premium real estate, promising significant returns for both developers and the government exchequer.