- Maximum price per acre was Rs. 41.25 crore
- Proximity to Outer Ring Road, airport, and IT hub is the main reason
Budwel, an area of Hyderabad that is quickly becoming a development hub, has seen a sharp rise in land prices. The highest bid per acre in the most recent land auction held by HMDA was Rs. 41.25 crore. A total of 100.01 acres in 14 plots was estimated to generate an income of Rs. 2,000.20 crore, while in reality, the total income it generated was Rs. 3,625.73 crore. A minimum of Rs. 20 crore has been set as the price per acre. However, the highest bid in the Thursday auction was Rs. 41.25 crore per acre.
The starting price was 33.25 crore rupees. Many real estate firms have expressed interest because of its proximity to the Outer Ring Road, the airport, and the IT sector. Moreover, HMDA is spending Rs. 200 crore for the development of internal roads, drainage systems, footpaths, water supply, and other infrastructure in Budwel. All these together have caused land prices to rise here. Permits for multi-use buildings will be granted in this venture, located on a high rise adjacent to the ORR on the way to the Shamshabad International Airport.
