Hyderabad: The Housing Board recently held a public auction, selling eleven plots in the city’s outskirts, raising over Rs 65 crore.
On Monday, officials organized auctions for different plots in Chintal, Gachibowli, Nizampet, and nearby areas. Among these were residential plots of 266 square yards in Chintal and commercial plots of 413 square yards in Nizampet. The auction, launched at the KPHB Colony Community Hall in Kukatpally, attracted 55 bidders.
A notable sale included a commercial plot in Gachibowli, fetching Rs 33 crore, with another selling for Rs 13.51 crore. Two Middle Income Group (MIG) plots were sold for over Rs 4.50 crore. Plots in Chintal also sold for several crores. Altogether, the auction of 11 plots brought in Rs 65.02 crore, as confirmed by Housing Board Vice Chairman and Housing Commissioner V P Gautam.
The Vice Chairman explained that 1,487 square yards of commercial land in the Gachibowli Housing Board colony sold for about Rs 33 crore, at Rs 2.22 lakh per yard. The initial price was Rs 1.20 lakh per square yard, showing a significant rise during the auction. Similarly, 1,200 square yards of school land there had an initial price of Rs 80,000 per square yard but sold for Rs 1.12 lakh. Two MIG plots in Gachibowli sold at Rs 1.86 lakh and Rs 1.32 lakh per square yard. In total, lands in the Gachibowli area alone generated Rs 55.56 crore.
Additionally, MIG plots in Chintal, Quthbullapur mandal, were sold at high prices. Ten plots were auctioned, with plots 113, 114, and 115 alone bringing in about Rs 8.11 crore. Four plots in Nizampet-Bachupalli were bought for around Rs 70 lakh.
