- ₹2.98 lakh per square yard — 18 plots fetch ₹142 crore for the Housing Board
Hyderabad Land | Hyderabad, June 12: In a public auction held here for vacant plots in Kukatpally Housing Board (KPHB), a record price of ₹2.98 lakh per square yard was quoted.
This is the highest rate in recent times, according to Housing Board officials, who expressed great satisfaction at the response. They stated that the soaring land prices are proof of the robust growth in Hyderabad’s real estate sector.
The auction was held at the local community hall for 18 vacant plots in Phase 7 of KPHB Colony. These plots ranged in size from 198 to 987 square yards. In the bidding, plot number 22 stood out, fetching a whopping ₹2.98 lakh per square yard — the highest of the day.
Hyderabad Land Auction
A total of 84 bidders participated in the auction.
Housing Board Vice Chairman V.P. Gautam stated that the auction brought in revenue of approximately ₹142.78 crore. Altogether, 6,232 square yards were auctioned, and the average price per square yard across all plots was ₹2.38 lakh.
However, plot number 22 set a record at ₹2.98 lakh per square yard.
As per the auction terms, the buyers must pay 25% of the amount within two days. This initial payment alone is expected to bring in ₹35.34 crore in immediate revenue for the Housing Board.
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