Land prices skyrocket in Hyderabad; 7.8-acre plot in KPHB Colony sold for Rs 547 Cr
Rajiv Swagruha Towers allocation raises Rs 70.11 Cr
By Newsmeter Network
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Hyderabad: Hyderabad’s real estate market received a significant boost on Wednesday as 7.8 acres of prime land in Kukatpally Housing Board (KPHB) Colony were sold for a record Rs 547 crore.
Godrej Properties emerged as the winning bidder, paying Rs 70 crore per acre, the highest rate ever recorded for the area.
Officials said the sale highlights growing investor confidence, especially in areas near Hitech City, where high-rise residential and commercial projects continue to thrive.
Major developers compete in online e-auction
The Telangana Housing Board conducted a transparent online e-auction, attracting leading real estate firms including Aurobindo Realty, Prestige Estates, and Ashoka Builders.
The auction started with a minimum bid of Rs 40 crore per acre, but intense bidding pushed the price up 46 times over three-and-a-half hours.
Housing Board Vice Chairman V.P. Gautham said the revenue will be utilized for housing schemes benefiting poor and middle-class families.
Rajiv Swagruha Towers allocation raises Rs 70.11 Cr
In addition to the KPHB land auction, the government earned Rs 70.11 crore through the sale of three incomplete multi-storey towers under the Rajiv Swagruha Corporation.
The flats were allocated via lottery:
Pocharam Township: Two towers with 194 flats; 72 flats allotted to NTPC Employees Association for Rs 13.78 crore, and 122 flats allotted to Gayatri Education & Cultural Trust for ₹30 crore.
Gajularamaram: One 112-flat tower allotted to FCI Employees Association for Rs 26.33 crore.
Flat prices were set at Rs 1,650 per sq. ft. in Pocharam and Rs 1,995 per sq. ft. in Gajularamaram.
Realty growth set to accelerate in KPHB
Realtors believe Godrej Properties’ entry into KPHB Colony will enhance the area’s real estate profile and attract more high-end developments.
Officials expect the project to boost the locality’s prestige and further urban development, strengthening Hyderabad’s position as a major real estate hub.
