Latest news with #TelanganaHousingBoard
New Indian Express
3 days ago
- Business
- New Indian Express
Kukatpally Housing Board plot sold at Rs 2.98 lakh per sq yard
HYDERABAD: A record price of Rs 2.98 lakh per sq yd was bid for an open plot in Kukatpally Housing Board (KPHB) Phase-7 during an auction conducted by the Telangana Housing Board on Wednesday. As many as 18 open plots, ranging from 198 to 987 sq yd were auctioned, with plot No. 22 fetching the highest bid of Rs 2.98 lakh per sq yd. A total of 84 bidders participated in the auction. In January this year, plots at KPHB were auctioned for up to Rs 1.85 lakh per sq yd. In August 2023, a 3.6-acre parcel at the Neopolis layout in Kokapet was sold for Rs 362.7 crore, or Rs 2.08 lakh per sq yd. Housing Board vice-chairman VP Gautham stated that Wednesday's auction generated a total revenue of Rs 142.78 crore. 'We auctioned a total of 6,232 sq yd, with an average price of Rs 2.38 lakh per sq yd,' he said. Successful bidders must pay 25% of the amount within two days. This will fetch the KPHB an immediate income of Rs 35.34 crore, Goutham added.
Hans India
3 days ago
- Business
- Hans India
Housing Board hits Rs 142 cr jackpot with sale of 18 plots
Hyderabad: The Telangana Housing Board earned a record of Rs 142 crore with the sale of 18 plots at a price of Rs 2.98 lakh per square yard in the vacant plots in the Kukatpally Housing Board Colony (KPHB). The Housing Board officials expressed joy that this was the first time in recent times that the price of a square yard has been so high. They said that the land prices were an indication that the real estate sector in Hyderabad is making good progress. A public auction was held at the local community hall on Wednesday for 18 vacant plots in Kukatpally Housing Board Colony Phase 7. In the auction held for the sale of plots ranging from 198 yards to 987 yards, bidders came forward to buy plot number 22 by paying Rs 2.98 lakh per square yard. A total of 84 people participated in the auction of these flats. Housing Board Vice Chairman VP Gautam said that the Housing Board would get an income of about Rs 142.78 crore through this auction. A total of 6,232 square yards were auctioned for these 18 plots, and the average price per yard was Rs 2.38 lakh, with the highest price being Rs 2.98 lakhs for plot 22. Those who bought the lands in this auction have to pay one-fourth of the amount within two days. This would generate an income of Rs 35.34 crore for the Housing Board.
