The prices of land in Kokapet, Hyderabad have gone higher than expected. To raise funds, HMDA has started selling land in Plot No. 6, 7, 8, and 9 of Kokapeta Neopolis Layout. The prices of the lands reached record levels, with the highest price per acre being Rs. 72 crores and the lowest being Rs. 51 crores.
In the first round of sales, HMDA earned Rs. 1,533 crore. The average price of the land is Rs. 1.5 lakh per yard. HMDA aims to raise up to Rs. 2,500 crore by selling a total of 45.33 acres in seven plots. The government has set a minimum price of Rs. 35 crore per acre, but the land prices in Kokapet are higher than that.
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