Hyderabad: After almost two years, the Hyderabad Metropolitan Development Authority (HMDA) is gearing up for land auctions at Neopolis in Kokapet. Along with this, it has identified plots that can be sold. Earlier, the previous BRS govt had auctioned about 95 acres at Neopolis in two phases – June 2021 and Aug 2023.The state govt has already decided to go for land auctions across the state as part of resource mobilisation to fund various projects. Since there is a slump in the real estate sector, agencies such as HMDA and Telangana State Industrial Infrastructure Corporation (TGIIC) have been waiting for the right time. The HMDA also wants funds for its various projects, including two elevated corridors – Paradise to Shamirpet and Paradise to Dairy Farm Road (Medchal) – and a greenfield radial road in Future City.“Of the 20 big land parcels at Neopolis, five are still available. If the state govt permits, we will go ahead with the auctions,” HMDA metropolitan commissioner Sarfaraz Ahmad told TOI.In the earlier auctions, HMDA got about Rs 40 crore to Rs 100 crore per acre, and this time, the authority may fix Rs 40 to Rs 50 crore per acre as the upset price. From Neopolis, the HMDA earned Rs 2,000 crore and Rs 3,300 crore in the two phases. Budvel land auctions fetched the govt another Rs 3,625 crore in 2023.HMDA officials said there are about 2,414 plots available in 18 HMDA layouts, including ongoing layouts. While four major land parcels are available in Budvel, there are 41 open plots in Uppal Bhagat, 12 in Turkayamjal and 327 in Inmulnarva village in Rangareddy district.There are various layouts, including projects that were taken up under land pooling schemes, which have open plots that would be auctioned in the future, officials said. For instance, Lemoor, Thorrur, Kurmalguda, Bachupally, Medipally, Mokila, Pratapa Singaram, Bahadurpally and Pedda Kanjarala have 2,029 plots that are developed or under development.Sources said the govt will first go for land auctions in high demand areas in western part of the city, such as Kokapet, and continue if there is a good response.
