| The bid for 25 acre land at the rate of Rs 12.01 crore per acre was made by Eden Buildcon, a wholly-owned subsidiary of Delhi-based Omaxe. |
| However, the price quoted by the real estate developer was just Rs 1 lakh higher than the upset price of Rs 12 crore per acre fixed by Huda since Eden Buildcon was the only entity in fray for the auction of the 25-acre plot. |
| In the previous auction, the price quoted was as high as Rs 14 crore per acre, double the upset price of Rs 7 crore fixed by Huda at that time. Though representatives from three other companies, two from Bangalore, attended the meeting, they did not take part in the auction. |
| The 400-acre land planned for sale in Kokapet has attracted several leading property developers as it is strategically located at an important junction of the outer ring road (ORR) connecting the city's IT hub with the new international airport. |
| Huda got Rs 702 crore revenue from the earlier sale of 70 acre land while today's bid value works out at Rs 300.25 crore. |
| "We had proposed to auction two plots of 25 acres each on Thursday. However, we confined to just one plot as there was no response from other players," Piyush Kumar, project director, ORR, Huda, told Business Standard. |
| He attributed to a higher upset price besides recent controversies involving the Kokapet land, including the opposition to land sale by opposition parties. |
| However, officials are hopeful of revival of interest in property developers over the Kokapet land in the coming days. |
| Meanwhile, real state developer Omaxe today informed the BSE of Eden Buildcon's bid for the 25-acre plot put for sale by Huda for a multi-purpose project with an estimated cost of Rs 1,800 crore. The company proposes to build both residential and commercial space in this venture. |
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