Telangana Housing Board Land Auction Generates High Revenue in Hyderabad
The Telangana Housing Board conducted a successful public auction for land parcels in Hyderabad, with prices soaring to record levels in key areas of the city. The auction, held on Monday, resulted in significant income for the board, highlighting strong demand in the real estate market.
Record-Breaking Bids in Prime Locations
In Gachibowli, a plot measuring 263 square yards was sold for an impressive 1.76 lakh per square yard, far exceeding the upset price of 50,000. Similarly, in Kukatpally's Balaji Nagar, a 266 square yard plot fetched 1.64 lakh per square yard. Other areas also saw robust bidding, with open plots in Chintal selling at 84,000 and 74,000 per square yard, as confirmed by Housing Board vice chairman VP Gautam.
Auction Details and Participation
The Board had issued a notification on February 9 to sell 14 land parcels across various locations, including Gachibowli, Bowrampet, Balaji Nagar, and Chintal. The auction took place at the KPHB community hall, attracting around 50 bidders. Most of the plots sold were in the Middle Income Group (MIG) and High Income Group (HIG) categories, with intense competition among participants.
Additional Sales and Revenue Figures
Further sales included another plot in Gachibowli sold for 1 lakh per square yard and a larger plot in Bowrampet, measuring 2,600 square yards, which went for 61,000 per square yard. In total, the auction generated a substantial revenue of 34.27 crore for the Telangana Housing Board, underscoring the vitality of Hyderabad's property market.
Key Highlights of the Auction:
- Total revenue from land sales: 34.27 crore.
- Highest price per square yard: 1.76 lakh in Gachibowli.
- Number of land parcels auctioned: 14 across multiple city areas.
- Participating bidders: Approximately 50, indicating high interest.
This auction reflects ongoing trends in Hyderabad's real estate sector, with premium locations commanding top prices due to their strategic value and development potential.
