Hyderabad: The remarkable success of the recent Kokapet land auction that fetched an unprecedented Rs. 100 crore per acre, the Hyderabad Metropolitan Development Authority (HMDA) is gearing up for another high-stakes event. In an official announcement on Friday, HMDA revealed plans for an upcoming e-auction of plots in Budwel, Telangana, scheduled for August 10, 2023.
With the spotlight on Telangana’s surging development, the HMDA’s decision to auction 14 plots in Budwel has captured significant attention. As part of the pre-auction proceedings, a crucial pre-bidding meeting is set to take place on August 6, 2023. Prospective bidders eager to secure a piece of prime real estate have until August 8, 2023, to complete their registrations for the open plots.
Telangana’s Chief Minister, K Chandrashekar Rao, lauded the recent historic land sale at Kokapet, emphasizing that the staggering price of Rs. 100.75 crore per acre reflects the state’s remarkable growth trajectory. He underscored that beyond the economic implications, the acquisition of land by esteemed global enterprises carries profound significance for Telangana’s future.
Reflecting on Hyderabad’s development trajectory, Chief Minister Rao highlighted the city’s impressive development index as a testament to its progress. He addressed detractors who had cast doubts on Hyderabad’s vitality and land values after Telangana’s statehood, stating that the soaring land prices stand as a firm rebuttal to such unfounded claims.
Attributing the achievement to the concerted efforts of the state government, Chief Minister Rao commended HMDA officials, along with MAUD Minister KT Rama Rao and HMDA Metropolitan Commissioner Arvind Kumar. Their collective contributions have been instrumental in propelling Hyderabad’s advancement, reaffirming its status as a burgeoning cosmopolitan hub.
As the anticipation builds for the forthcoming Budwel plot auction, stakeholders and observers alike eagerly await the outcome, which promises to further solidify Telangana’s position on the map of remarkable urban development and real estate investment.