Hyderabad: A hundred acres of land, divided into 14 high-value open plots at Budvel layout that went under the hammer fetched a significant sum of Rs 3,625.73 crore for the Hyderabad Metropolitan Development Authority (HMDA) on Thursday, an HMDA official informed.
According to the information received from HMDA officials, The Budvel land, situated near Rajendranagar, saw the sale of 100 acres divided into 14 plots over two sessions. In the morning session, seven plots fetched an impressive Rs. 2,057 crore, followed by an equally whooping Rs. 1,568.06 crore for seven more plots in the afternoon session.
Interestingly, the 15th plot received an astonishing rate of Rs. 41.75 crores per acre, amassing a total of Rs. 298.93 crores for the 7.16 acres of land. Conversely, the 2nd plot was marked as the lowest-valued plot after securing a rate of Rs. 33.25 crores per acre, contributing Rs. 270.99 crores from its 8.15 acres of land. HMDA had initially set a base price of Rs. 2,000.20 crores for the entire 100 acres, but the enthusiastic response pushed the government exchequer's earnings to an impressive Rs. 3,625.73 crores.
In contrast to the Kokapet auction where select companies vied for plots, the Budvel land auction witnessed interest from a variety of major corporations. The Budvel zone also allows for multi-story construction like the Kokapet zone, subject to approvals from the Airports Authority of India (AAI).
Notably, Himayatsagar is visible on one side of the view and Shamshabad Airport is on the other side of Budvel. The venture is also located very close to the ORR exit road in Rajendranagar, offering convenient access to the Airport Express Metro Station and key IT corridors.
The plot auction details are as follows...
- Total Area: 100 Acres
- Total Income (in Rs. Crores): 3,625.73
- Maximum price per acre (in Rs. Crores): 41.75
- Minimum price per acre (in Rs. Crores): 36.25
