Hyderabad: Land prices in Hyderabad hit a new peak on Monday when the Telangana government sold less than an acre for over Rs 160 crore.
As per a report in Mint, the government sold a 0.97-acre plot for Rs 160.42 crore in the Knowledge City area. The cost went to Rs 172.45 crore including stamp duty and registration.
Prices jump due to demand for Land in Hyderabad
Recently, Bengaluru’s Prestige Group bought an 11-acre plot for Rs 1556.5 crore at a cost of Rs 141.5 crore per acre.
In another auction, MSN Labs bought 7.76 acres in Raidurg at Rs 177.7 crore per acre.
During Monday’s auction in Hyderabad, the land prices went up and was sold at Rs 3,40,000 per square yard.
Auction of open residential plots
Meanwhile, the government is going to auction open residential plots located near Hyderabad on Monday, November 17 and Tuesday, November 18.
In Hyderabad, the land areas are located in Bahadurpally and Kurmalguda. A total of 38 plots in these areas will go for auction on Tuesday.
Apart from open residential plots in Hyderabad, those in Thorrur will also be made available in the auction which will be held from November 17.
For more details, those who are interested in the auction of open plots can visit the official website.
