Kokapet Auction: Will land prices surpass Rs 100cr per acre?

When you think of Kokapet, the first thing that comes to mind is the price of Rs 100 crores per acre. In the past, when there were no developments, the idea of 100 crore rupees per acre seemed far-fetched. However, now that the infrastructure is nearly complete, real estate experts estimate that the area could see even higher rates. Despite this, the question remains whether the Rs 100 crore mark will be surpassed, especially considering the negative conditions in the real estate market last year. However, with the demand for IT spaces rising since last year and leasing rates increasing, speculations are growing that if the Hyderabad Metropolitan Development Authority (HMDA) holds an auction in Kokapet this time, the Rs 100 crore mark might be exceeded. In any case, there is no doubt that Kokapet will emerge as a top destination in India, with its residential and commercial skyscrapers. The number of people coming to Kokapet from all directions of the city is steadily increasing. This is why the government is focusing on improving connectivity to Kokapet, especially with the Shamshabad International Airport and other areas. As part of this, a special road is being constructed to facilitate direct vehicular movement from Kokapet to the Outer Ring Road (ORR). The work on the four-lane road connecting Kokapet Layout to the ORR is progressing well. The Hyderabad Metropolitan Development Authority (HMDA) is investing nearly 80 crores in this project. The length of the road will be approximately 1.27 kilometres from the layout to the ORR. This road will ease the daily commute for 15-20 lakh people from Kokapet and surrounding areas to the ORR. Realty experts predict that once this road is operational in about a month, connectivity from Kokapet to other parts of the city will improve, which in turn will boost real estate development in the surrounding areas.

How much will 24 acres cost?

In the Kokapet Neopolis Layout, after land allocations and auctions for various companies, 24 acres of land remain unsold. It is well-known that around 45.33 acres of land were auctioned off a year and a half ago, bringing in Rs 3,319 crore in revenue for the government, despite having no facilities at that time. In the auction held a year ago, the price per acre was approximately Rs 73.25 crores. Now, with all the facilities in place, there is growing curiosity in the real estate sector about how much the remaining 24 acres will fetch. Officials have already drafted plans for the auction of Kokapet land and have sent proposals to the government. Once the government approves the online auction, the process will begin. Officials estimate that the price of land per acre in this upcoming auction will likely break the Rs 100 crore record. In addition, projects such as the My Home APAS project, with six towers, are rapidly under construction. The My Home Grava project is also being developed in the same area. The renowned construction company, Paulomi, is constructing the 55-story Paulomi Palazzo. The Rajpushpa Group is working on the Rajpushpa Casa Luxura project. Several other large residential and commercial projects, including ASBL Spire, Cybercity Westbrook, Hallmark Treasure, Prestige Clairemont, Sattva Lake Ridge, and Lansum Elena, are under construction at full speed in Kokapet.