Kokapet has become a much sought-after destination for investors due to its proximity to IT corridors, the Outer Ring Road and Hyderabad International Airport (ORR), and fully-developed infrastructure facilities. Even the Telangana government has chosen Kokapet to be the home of vast land for its land auctions.
Kokapet for Land Auctions
HMDA officials say that Kokapet is 'tested' for the government auction in the Rs 1,680 crore from the land auctions in 2006 for the 'Golden Mile' Project. Due to the legal dispute of over 634 acres of land, however, the HMDA could not get the total amount. The land is now in the open.
While some companies bid Rs 14.5 crore per acre 15 years ago, TSSIC and HMDA are hoping to double the minimum amount of the 64 acres that have been sold in the Kokapet area.
The Neopolis, Kokapet, where the auctions take place, is the most progressing and well-developed city, possibly with the best infrastructure services in the country, as a green-field project. Futuristic planning has been carried out, said Arvind Kumar, Senior Secretary, City, and Urban Department.
The auction in Kokapet is the final opportunity to grab prime land in the vicinity of the financial district before the market moves west to Kollur. In addition, Kokapet is also a target for commercial and residential high-end buildings. Financial district and unlimited FSI infrastructure make Kokapet attractive, supported by the potential for employment.
By: Shailaja K