Telangana govt nets Rs 7,100 cr through land auctions near Hyderabad – ET Infra

HYDERABAD: The Telangana government is expected to earn nearly Rs 7,100 crore through the auction it conducted recently for some land parcels and plots near here. According to the figures supplied by Hyderabad Metropolitan Development Authority (HMDA), the state government has received over Rs 100 crore per acre in a bidding for some of the land parcels located at Kokapet Phase-II in Gandipet mandal of nearby Rangareddy district.

“The total revenue to be received through auction for the above plots crore Rs 3,319.60. (The) highest price received was Rs 100.75 per acre which is all-time high record in the state. The upset price fixed was Rs 35 crore per acre whereas the average bid price per acre is Rs 73.23 crore,” HMDA said with regards to the Kokapet land parcels.

Similarly, the state government is expected to receive a total revenue of Rs 3,625.73 crore through auction of a little over 100 acres of plots at Budwel in Rangareddy.

The BRS government is expected to rake in over Rs 154 crore through the auctions conducted for various other lands.

As part of monetisation, HMDA recently invited global competitive bids for the Outer Ring Road project on toll-operate-transfer (TOT) basis, in which IRB Infrastructure Developers Ltd. had participated and emerged as the selected bidder.

The firm on Saturday said it has made an upfront payment of Rs 7,380 crore to HMDA.

  • Published On Aug 14, 2023 at 04:48 PM IST

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