Kokapet Auction: Kokapet land rates exceeded expectations of everyone.
By Infinity Byte : Telangana Chief Minister KCR land prices reflect the State’s growth.
To raise funds, HMDA has taken up the process of sale of land in Plot No. 6, 7, 8, 9 of Kokapeta Neopolis Layout on Thursday. The e-auction of seven prime open plots in Kokapet generated a record Rs 3,319.6 crore, with the highest bid going for Rs 100.75 crore for one acre of plot 10.
In the first tranche, HMDA received an income of Rs.1,533 crore. Average land price is Rs.1.5 lakh per yard. HMDA expects to raise up to Rs 2,500 crore with seven plots totaling 45.33 acres. The government has fixed the minimum price at Rs.35 crore per acre. But the land prices here are more than that.
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Kokapet land Rates: Reasons for High demand
These lands are almost touched to the ORR. In this area mostly highways and apartments are proposed to build.
- Vijayawada Highway, Bangalore Highway, Srishailam Highway, ORR – all these are connected making Kokapet as Center.
- Next, Airways Outer Ring Road metro is also anticipated here only.
- From kokapet the time taken to reach the major areas is also very less.
| Time taken to reach ORR | 2 mins |
| Time taken to reach financial district | 5 mins |
| Time taken to reach Center areas | 20 mins |
| Airport | 20 mins |
| Hitech city | 20 mins |
| Hussain Sagar | 40 mins |
| Ramoji Film City | 60 mins |
KCR able leadership is reason for Telangana’s development: KTR
On reacting to the record-breaking auctions of Kokapet land rates, KCR’s son, Telangana Minister, Kalvakuntla Taraka Rama Rao (KTR) said that “Kokapet’s record breaking land auction is the clear picture for the Hyderabad’s development. Despite of the Congress leader’s fake propaganda, many people came forward to buy the lands.” He also mentioned that “This is possible with 2 things: 1. Stable Government and 2. Able Leadership.”
This means that the KCR’s able leadership is responsible for the State’s stable progress.
100cr land sale a befitting reply to those who opposed Telangana’s statehood: CM
Commenting on the Kokapet land rates, which came from Happi Heights Neopolis, fetching a total of Rs 362.7 crore for 3.6 acres, Telangana CM K Chandrashekhar Rao, aka KCR, said that the deal reflects the exemplary growth the state has witnessed. “The development index of Hyderabad is a reflection of the height the city has reached,” the chief minister emphasized. KCR went on to say that the land bid comes as a befitting reply to those who had opposed Telangana’s statehood. “The high land prices are like a slap on the face of those who had insulted Hyderabad by creating fears that the city would lose its sheen if Telangana attained statehood and the land prices would fall,” KCR said.
Next, Land Auctions at Budwel, Shamshabad
By overwhelmed by the response at Kokapet land rates, Telangana Govt has decided for the land auctions next at Budwel, Shamshabad.
Another Citizen tweeted against this Auctions.
Also read : https://rampantenvy.com/how-ktr-birthday-made-47-orphans-dream-come-true/
Related story: https://www.thehansindia.com/news/cities/hyderabad/cm-kcr-lauds-kokapet-land-value-says-it-is-states-growth-813345