Rs 2.98 lakh per square yard: KPHB Colony land prices break all records in Hyderabad
As per the auction guidelines, successful bidders are required to pay 25 percent of the total amount within two days
By Newsmeter Network
Representational Image
Hyderabad: Kukatpally Housing Board (KPHB) Colony witnessed record-breaking land prices during a public auction held on Wednesday.
A single plot fetched an unprecedented Rs 2.98 lakh per square yard, the highest rate in recent times, according to Housing Board officials. The auction, conducted at the KPHB Phase-7 Community Hall, saw 18 vacant plots up for grabs, ranging from 198 to 987 square yards.
Of these, plot number 22 garnered the highest price of the day, significantly pushing the overall earnings from the auction to Rs 142.78 crore.
A total of 84 bidders participated in the event, underlining the strong demand for land in this prime residential and commercial zone. In all, 6,232 square yards were auctioned, with the average price per square yard across all plots settling at Rs 2.38 lakh.
Housing Board Vice Chairman V.P. Gautam, who supervised the proceedings, expressed satisfaction at the robust response. He noted that the record prices highlight the sustained growth and investor confidence in Hyderabadās urban development and infrastructure.
As per the auction guidelines, successful bidders are required to pay 25 percent of the total amount within two days. This advance is expected to bring in Rs 35.34 crore in immediate revenue for the Housing Board.
Officials said the success of the auction may set the tone for future land sales in the cityās fast-growing suburbs and planned colonies.
