₹1.76L per square yard: Land prices in Gachibowli set new record in Hyderabad
The Housing Board had issued a notification on February 9 to sell 14 plots located in Gachibowli, Bowrampet, Balajinagar (Kukatpally), Chintal, and other areas.
By Newsmeter Network
Representational Image
Hyderabad: Land rates in prime localities of the city surged again as plots auctioned by the Telangana Housing Board fetched significantly higher rates than the upset prices.
A plot in Gachibowli recorded a top bid of ₹1.76 lakh per square yard, officials said.
The auction was conducted on Monday at the KPHB Housing Board Community Hall.
The Housing Board had issued a notification on February 9 to sell 14 plots located in Gachibowli, Bowrampet, Balajinagar (Kukatpally), Chintal, and other areas.
Gachibowli records the highest bid
A 263-square-yard plot in Gachibowli had an upset price of ₹50,000 per square yard.
However, competitive bidding drove the price up to ₹1.76 lakh per square yard. Another plot in Gachibowli fetched ₹1 lakh per square yard.
Strong response in Kukatpally, Chintal
In Balajinagar, Kukatpally, a 266-square-yard plot was sold at ₹1.64 lakh per square yard.
Plots in Chintal were sold at ₹84,000 and ₹74,000 per square yard, respectively, reflecting steady demand in peripheral residential zones.
Siddhi flats in Nizampet attract buyers
In Nizampet, a Siddhi flat with an upset price of ₹15 lakh was sold for ₹17.7 lakh in the auction.
Bowrampet land also draws good price
A large parcel of land in Bowrampet, measuring 2,600 square yards, was sold for ₹61,000 per square yard.
₹34.27 crore revenue generated
According to Housing Board Vice-Chairman V.P. Gautam, the auction of 14 properties generated total revenue of ₹34.27 crore for the Board.
Officials stated that the strong response indicates sustained demand for Housing Board layouts in both prime and emerging residential areas of Hyderabad.
