Kokapet is turning out to be the hottest cake in the real estate market and a golden goose for the Telangana government that keeps giving, with realtors shattering all the previous records to bet a fortune on the area abutting Outer Ring Road.
Within three days of the previous auction at Neopolis layout, where it had broken the earlier record of price received in land auction, the Hyderabad Metropolitan Development Authority (HMDA) has pulled off an encore of the feat, by setting another record in realty prices.
Surpassing the previous highest bid of ₹137.25 crore per acre, the latest round of auctions at Neopolis, Kokapet on Friday has realised the maximum bid of ₹151.25 crore per acre, for a plot measuring 4.03 acres. Four individuals Lakshmi Narayana Gummadi, Karteesh Reddy Madgula, Sharat Ventrapragada and Shyam Sunder Reddy Vangala bagged the deal.
The second highest bid was ₹147.75 crore, for another plot measuring 5.03 acres, which was secured by Godrej Properties Limited.
Together, the two plots generated ₹1352 crore revenue for the Telangana government and added significant momentum to the ongoing auction series, a statement from HMDA said. Besides, the average price realisation per acre has been tossed to ₹142.83 crore at the layout from ₹73 crore recorded just two years ago.
When combined with the revenue from the recent first round of auctions, the bounty realised from the Neopolis auctions now stands at ₹2708 crore. One more round of auctions is scheduled at Neopolis on December 3, and at Golden Mile, also at Kokapet, on December 5.
Published – November 28, 2025 08:49 pm IST
