Rs.1 billion per acre: Hyderabad land sale achieves a new benchmark
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Hyderabad's land market has set a remarkable milestone, witnessing land sales surpassing Rs.1 billion per acre in a recent government bid. Rajapushpa Properties' Happi Heights Neopolis got 3.6 acres for about Rs.3.627 billion. In a separate bid, Navartis Investment, owned by Rajapushpa, acquired 6.5 acres for Rs.755 million per acre. While Phase 1's highest bid hit was Rs.600 million in July 2021 the latest round averaged over Rs.700 million, up from the previous average of `400 million. The auction of over 45 acres in Neopolis Phase 2 garnered Rs.33.196 billion, surpassing the Rs.20 billion target.