Chief Minister A Revanth Reddy has announced plans to auction 550 acres of Miyapur land, valued at nearly Rs 50,000 crore, and use the proceeds for irrigation, education, healthcare and other development works, subject to Cabinet consideration. Hyderabad: A day after the Supreme Court ruled that 550 acres of land in Miyapur belonged to the State government, Chief Minister A Revanth Reddy announced that the land would be auctioned and the proceeds.