Telangana govt green signal to auction Kokapet land

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The gave a green signal to auctionKokapetlands at Neopolis area under survey number 239, 240 on Wednesday. A government order in this regard was issued by chief secretary Somesh Kumar which granted permission to execute the sale deeds of government lands to Rangareddy district collector.

It maybe recollected the government sold Kokapet lands through e-auctioning in

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July this year which garnered huge response as eight plots over 48.27 acre were offered for a minimum upset price of Rs 25 crore per acre.
In its GO, the government made it clear that the rights on the land belong to government and that the Hyderabad Metropolitan Development Authority (HMDA) will conduct the auction as a government agent.

The government is keen on earning a total Rs 5,000 crore by auctioning these lands. So far, the HMDA made Rs 2,000.37 crore by auctioning Kokapet lands alone.