GHR Sets New Hyderabad Record: Kokapet Neopolis Land Sold at ₹151.25 Crore per Acre

A new record was registered on Friday in the Hyderabad auctions. Land in Kokapet fetched the highest rates in Telangana. In the auction conducted by HMDA, the land went for ₹151.25 crore per acre. This can be called a landmark area in Kokapet. Because several developers competed for the site, GHR ultimately won it. GHR Lakshmi Urban Blocks acquired a 4.03-acre plot. The plot was taken by Lakshmi Narayana Gummadi, Kartish Reddy Madgula, Sharath Ventrapragada and Shyam Sundar Reddy Vangala at ₹151.25 crore per acre. Godrej Properties Limited acquired the 16th plot at ₹147.75 crore per acre. Through these two plots, the Telangana government received a total of ₹1,352 crore. Including revenue from the first phase, the total value raised through the Neopolis auctions has reached ₹2,708 crore so far.

“We secured this site because the 15th plot in Kokapet Neopolis is a top location,” said Shyam Sundar Reddy, MD of GHR Infra Group. He said plans are being drawn up to build a five-star hotel and branded residences on this 4.03-acre site that has the potential to become a landmark. He added that Kokapet Neopolis is emerging as a futuristic location in Hyderabad’s real estate sector. With an eye to future generations, We are planning to develop high-quality retail and commercial spaces along with a star hotel and branded residences at the highest standards, he explained to Real Estate Guru.