Hyderabad, Nov. 25 -- The Hyderabad Metropolitan Development Authority (HMDA) conducted its third phase of e-auctions for prime land plots in the Neopolis layout of Kokapet on Monday, November 24, where two key parcels sold at record prices.

Plot 18, a 5.31-acre lake-facing site, fetched Rs 137.25 crore per acre, while Plot 17, covering 4.59 acres, went for Rs 136.5 crore per acre, substantially above the upset price of Rs 99 crore per acre set by HMDA.

These sales generated a total revenue of around Rs 1,356 crore for the Telangana government.

Aggressive bidding

This auction saw aggressive bidding from about 10 prominent national and local developers, extending the originally scheduled 3-hour auction well beyond 4 pm.

The recent boo...