₹2.65L per sq yd: Hyderabad land prices set new record; KPHB plot fetches highest rate
The auction, held at a function hall in KPHB, drew participation from over 40 bidders, including prominent businessmen.
By Sistla Dakshina Murthy
Representational Image
Hyderabad: Land prices in Kukatpally Housing Board (KPHB) Colony scaled a new high, with a square yard selling at Rs 2.65 lakh during an auction held by Telangana Housing Board (TGHB) here.
Flats and open plots auctioned on Friday witnessed intense bidding, underscoring the surging demand for government-owned properties in the prime western corridor of the city.
The auction, held at a function hall in KPHB, drew participation from over 40 bidders, including prominent businessmen.
Plots see fierce bidding
Four open plots located in Dharma Reddy Colony under KPHB Phase 1 and 2 limits, along with eight flats in the ‘Sampurnam’ apartment complex in Phase 15, were put up for sale.
The upset price for LIG-category plots was fixed at Rs 1.30 lakh per square yard. However, competitive bidding drove the highest price to Rs 2.65 lakh per square yard, more than double the base price. Another plot was sold at Rs 2.41 lakh per square yard.
Sharp rise compared to previous auctions
Officials noted a significant rise in prices compared to previous auctions in KPHB. Earlier, open plots in the locality were sold at an average of Rs 1.80 lakh per square yard. This time, the highest bid touched Rs 2.65 lakh.
Similarly, flats in the Sampurnam Apartments that previously sold for Rs 85–95 lakh were now auctioned at substantially higher rates. A 1,400 square feet flat, with an upset price of Rs 90 lakh, fetched a maximum of Rs 1.10 crore. Other flats were sold in the range of Rs 1.06 crore to Rs 1.08 crore.
Demand driven by location advantage
Real estate experts attribute the sharp rise in prices to KPHB’s proximity to the IT corridor, metro rail connectivity, reputed educational institutions, and commercial establishments. As the properties are government-owned, buyers are also assured of clear titles and transparent documentation, adding to their appeal.
Rs 24.26 crore revenue for Housing Board
According to TGHB Managing Director V.P. Gautam, the auction generated a total revenue of approximately Rs 24.26 crore for the Housing Board. Of this, Rs 15.81 crore came from the sale of open plots and ₹8.45 crore from flats.
He stated that the transparent auction process and dispute-free nature of the properties have strengthened public confidence in TGHB assets.
With prices reaching record levels, owning property in KPHB is increasingly becoming a distant dream for the common buyer, reflecting the broader real estate surge in Hyderabad’s western suburbs, realtors opined.
