2 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.
