Hyderabad: Rs. 70 Crore Per Acre Land In KPHB
Hyderabad, Aug 21 (Maxim News): The price per acre in the Kukatpally Housing Board (KPHB) colony in Hyderabad has reached a record high of Rs. 70 crore. There is a huge demand for plots in this area, which is close to Hi-Tech City.
There are multi-storey buildings belonging to prominent companies. Finding a hundred yards of land is a challenge. to this extent, the Housing Board held an e-auction on Wednesday for a 7 acre, 33 plot in the 4th phase of KPHB and a huge price of Rs. 47 crore was paid.
Companies like Godrej Properties, Aurobindo Realty, prestige Estates, Ashoka builder participated in the e-auction. The Housing Board has set the minimum price per acre at Rs. 40 crore. The companies participating in the bid competed by increasing the price 46 times.
Godrej Properties finally acquired the land at a price of Rs. 70 crore per acre. The government has decided to use the proceeds from this for housing projects for the poor and middle class, said Housing Board vice Chairman VP Gautam.
The government earned another Rs. 70.11 crore from the sale of incomplete multi-storey buildings, in the townships of Rajiv Swagruha Corporation.
Two towers with 194 flats each in Pocharam township on the outskirts of Hyderabad and one tower with 112 flats in GajulaRamaram were allotted through lottery on Wednesday.
The price per square foot was fixed at Rs. 1,650 in Pocharam and Rs. 1,995 in GajulaRamaram. The 72 flat tower in Pocharam was allotted to the NTPC employees Association for Rs. 13.78 crore, another towner with 122 flats was allotted to the Gayatri Education and Cultural rust for S. 30 crore, and the tower in Gajula Ramaram was allotted to the FCI Employees Association for Rs. 26.33 crore. (Maxim News)
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