PNS|Hyderabad
The Telangana Housing Board earned a staggering Rs 142.78 crore by selling 18 vacant plots in Kukatpally Housing Board Colony (KPHB) Phase-7, with one plot fetching Rs 2.98 lakh per square yard, the highest price recorded in recent times.
The open auction, conducted at the local community hall, saw the participation of 84 bidders, reflecting the robust momentum in Hyderabad’s real estate sector.
Officials said that this was the first time in recent years that the land in KPHB commanded such a premium price, underscoring the growing demand for high-value urban land.
Housing Board Vice Chairman and Commissioner VP Gautam said the total area auctioned across the 18 plots was 6,232 square yards, with plot sizes ranging from 198 to 987 square yards.
While the average rate was Rs 2.38 lakh per square yard, Plot No: 22 stood out by drawing the highest bid of Rs 2.98 lakh per square yard, setting a new benchmark for the region.
As per auction terms, buyers are required to pay 25 per cent of the bid amount within two days. This initial collection alone is expected to bring in Rs 35.34 crore for the Housing Board.
Officials believe that this auction not only highlights investor confidence but also reaffirms Hyderabad’s position as one of the country’s most dynamic real estate markets.
