The Telangana Housing Board's auction for open plots in Kukatpally Housing Board (KPHB) set new records as land was sold for unprecedented prices. The auction, held on Friday, saw a square yard of land being sold for a record-breaking 2.65 lakh, surpassing the upset price of 1.30 lakh per square yard.
A total of four open plots in Phases I and II of Dharma Reddy Colony and eight flats in Sampoornam Apartment, Phase-15 of KPHB, were put up for auction. Another plot was sold at 2.41 lakh per square yard, marking the highest price per square yard of land. Additionally, a flat in Sampoornam apartment fetched 1.10 crore, surpassing the upset price of 90 lakh. Other flats sold for between 1.08 crore and 1.06 crore.
Housing Board vice-chairman VP Gautham revealed that the Board earned a total of 24.26 crore through the public auction, with 15.81 crore from open plots and 8.45 crore from flats in Sampoornam apartments.
The auction's success is a testament to the strong demand for properties in the KPHB area, reflecting the robust real estate market in Hyderabad.
