Hyderabad: A public auction of Telangana Housing Board properties in KPHB on Friday, February 27, saw aggressive bidding, with land parcels touching Rs 2.65 lakh per square yard and flats crossing the Rs 1 crore mark, underscoring the area’s sustained real estate momentum.
The Board placed four open plots in Dharma Reddy Colony (Phases I and II) and eight flats in Sampurnam Apartments (Phase XV) under the hammer. Around 40 bidders participated in the process.
While the minimum price for the Low Income Group plots was fixed at Rs 1.30 lakh per square yard, competitive bidding drove the top quote to Rs 2.65 lakh.
The 1,400-sq.-ft flats, which had an upset price of Rs 90 lakh, eventually sold in the range of Rs 1.06 crore to Rs 1.10 crore.
Total revenue at Rs 24.26 cr
The exercise yielded total revenues of approximately Rs 24.26 crore for the Housing Board — Rs 15.81 crore from the plots and Rs 8.45 crore from the flats.
Housing Board vice chairman VP Goutham said the transparent conduct of the auction and the enthusiastic response from buyers reflected strong demand for residential properties in the KPHB locality.
