Hyderabad: The Telangana Housing Board has achieved a new milestone by earning Rs 142 crore from selling 18 plots in the Kukatpally Housing Board Colony (KPHB). Each square yard fetched a remarkable Rs 2.98 lakh.
Officials from the Housing Board expressed their delight, noting that such high prices per square yard are unprecedented in recent years. They believe this reflects the thriving real estate market in Hyderabad.
A public auction took place at the local community hall on Wednesday, featuring 18 vacant plots in Kukatpally Housing Board Colony Phase 7. The plots ranged from 198 to 987 yards. During the auction, plot number 22 attracted a top bid of Rs 2.98 lakh per square yard. In total, 84 bidders participated.
Housing Board Vice Chairman VP Gautam announced that this auction would bring in approximately Rs 142.78 crore for the board. A total of 6,232 square yards were sold, with the average price being Rs 2.38 lakh per yard. Buyers of these plots are required to pay 25% of the purchase amount within two days, contributing Rs 35.34 crore to the board’s revenue.
