The state administration approved Wednesday's auction of the Kokapet lands in the Neopolis area, which are covered by surveys 239 and 240. Chief Secretary Somesh Kumar issued a government directive authorising the Rangareddy district collector to execute the sale documents of government lands in this regard.
As you may remember, the government auctioned Kokapet lands by e-auctioning in July of this year. The sale, which featured eight plots totaling 48.27 acres and was advertised at a minimum upset price of Rs 25 crore per acre, received a tremendous amount of interest.
The Hyderabad Metropolitan Development Authority (HMDA) would conduct the auction on behalf of the government, and the government made it plain in its GO that the rights to the land belong to the government.
The GO number MS 125 states that the HMDA is the lone agent of the government and that any transactions it makes in this regard are made only on behalf of the Telangana government.
The CS further instructed the Rangareddy district collector to perform due diligence on the lands that were purchased by the bidders in the July auction. Prior to this, the auctioning of some lands had been put on hold as a result of high court petitions opposed to the auction.
The Kokapet lands received a significant level of interest during the July auction, with the highest price recorded at Rs 60.2 crore per acre for plot number 2/P, which had a 1.65 acre size. For a total of Rs 99.33 crore, Rajapushpa Realty LLP was successful in winning the auction for the site.
The government's decision to sell the land was made in an effort to make up for the losses brought on by the Covid outbreak. The Gandipet mandal's Kokapet village is located adjacent to both the outer ring road and the IT and ITES offices.
The auctioning of these lands is intended to bring in a total of Rs 5,000 crore for the government. The HMDA has so far generated Rs 2,000.37 crore from the sale of just the Kokapet lands.
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