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Time of India
8 hours ago
- Business
- Time of India
Commercial plot in Gachibowli fetches Rs 2.2 lakh per square yard, goes for Rs 33 crore
H yderabad: In a sign of a revival of the real estate boom in the city, the Telangana Housing Board sold a commercial plot for Rs 33 crore and another plot for Rs 11 crore in Gachibowli. The board auctioned plots in Gachibowli, Chintal, Nizampet, and other places on Monday, generating a total of Rs 65 crore. According to Telangana Housing Board (THB) commissioner VP Gautam, of the 11 plots auctioned, one commercial land parcel measuring 1,487 square yards in Gachibowli was sold at Rs 2.20 lakh per square yard, thereby fetching Rs 33 crore. The govt had fixed Rs 1.20 lakh per square yard as the upset price for the land. In the same locality, land earmarked for schools, for which the govt fixed Rs 80,000 per square yard, was sold for Rs 1.12 lakh per yard. Additionally, two Middle Income Group (MIG) plots in the area were sold for Rs 1.86 lakh and Rs 1.32 lakh per square yard, respectively. Officials said that auctions in Gachibowli alone fetched Rs 56 crore for the board. Plots in Chintal and Qutubullapur also fetched good prices. Of the 10 plots in Chintal, three plots — Nos. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 42-year-old woman changed drastically in a few months! "This" sold at Watsons is too effective Body Design News Learn More Undo 113, 114, and 115 — fetched Rs 8.11 crore. The board also earned Rs 70 lakh from the sale of four plots in Bachupally and Nizampet. A few weeks ago, the THB had auctioned plots in KPHB, where one square yard fetched a record Rs 2.98 lakh. In Phase 7 of KPHB, 18 plots were auctioned, generating Rs 142 crore for the board. One land parcel — No. 22 — fetched the highest price of Rs 2.98 lakh per square yard. On average, the board earned Rs 2.38 lakh per square yard for the 6,232 square yards sold. As per the norms, successful bidders must pay 25% of their bidding amount to the THB immediately, and the balance can be paid later.
Hans India
12-06-2025
- 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.
