Neopolis Land Auction Sets ₹120 Cr/Acre Upset Price

HMDA has listed a 4.59-acre parcel in Neopolis, Kokapet, at an upset price of ₹120 crore per acre for the upcoming e-auction on September 9.

The ₹120 Cr/acre figure is the upset price, not the final auction price. It will be interesting to see where the actual bidding ends and how the market responds to this benchmark.

Do you think ₹120 Cr/acre is justified for Neopolis, given its location and planned development, or are land values getting overheated?

Satheesh01

Verified Owner

This is still half of what hitech city is going for right now. So upto a long margin prices might look justified. It's only when the end user is paying for the end product, whatever residential or commercial, the actual picture will be seen, if it's overvalued or not

shiv

Considering Raidurg auction went for more than 250 Crore

I feel like 120 is very low even for upset price

Abhinavreddy

₹120 Cr is crazy money, but Neopolis might actually justify it. Curious to see where the final bid lands.

Bhaweshsingh

@Abhinavreddy I feel like it will go upto 150 Cr.

shiv

Considering that area is already projected for future i think it will go more than that

see raidurg for example