The Hyderabad Metropolitan Development Authority is planning to launch an HMDA auction for open plots at Kokapet, Hyderabad.
HMDA Auction of Plots at Kokapet
The planned big auction of plots in Kokapet indicate that the Hyderabad real estate would be reawakened after the slowdown caused by the Covid-19 pandemic. Adding to this, plans were made for developing infrastructure in the Kokapet Layout. Contrary to the regular HMDA auctions at Kokapet, the plots would be developed in acres, not in yards.
The Kokapet layout has 513 acres of HMDA plots and plans to develop the plots in 2 to 12 acres. The location is near to Gandipet and approximately 400 meters from the Outer Ring Road. More specifically, it is very near to the Financial District where several high-rise buildings are coming up.
Kokapet Plots Infrastructure Development Plans
The official said tenders has been floated to carry out the work as well as efforts are made to develop appropriate infrastructure such as highways, drainage systems in the layout. Traffic analyzes and steps to relieve congestion should be highlighted.
In addition, proposals were made to develop an infrastructure that would cover 70 to 100 acres and would leave approximately 250 acres in the area apart from this. The goal was to develop social infrastructure through the provision of schools, hospitals, restaurants etc.
The proposed auction is expected to help utilize the positive picture of Hyderabad's real estate situations, in addition to generating good incomes for HMDA.