Rs 2.22 lakh per sq yd: Gachibowli plot sold for record Rs 33 crore

Hyderabad: A commercial plot in Gachibowli was sold for a staggering Rs 33 crore, at a record-breaking rate of Rs 2.22 lakh per square yard, far exceeding the base price of Rs 1.20 lakh per square yard.

The landmark sale was recorded during the Telangana Housing Board's land auction.

The auction held at the Community Hall in KPHB Colony, Kukatpally, saw enthusiastic participation from 55 bidders and generated a total revenue of Rs 65.02 crore for the Housing Board, as confirmed by Housing Board Vice Chairman and Housing Commissioner VP Gautam.

Gachibowli leads the charge

Out of the total revenue, Rs 55.56 crore came from just a few prime plots in the Gachibowli Housing Board Colony. A 1,487-square-yard commercial plot alone fetched Rs 33 crore. While a 1,200-square-yard school land, with a base price of Rs 80,000 per square yard, was sold at Rs 1.12 lakh per square yard. Two MIG (Middle-Income Group) plots were sold at Rs 1.86 lakh and Rs 1.32 lakh per square yard, respectively.

High demand in Chintal, Nizampet

The auction also saw intense bidding for plots in other localities. In Chintal (Quthbullapur Mandal), three MIG plots (Nos. 113, 114, and 115) alone generated Rs 8.11 crore. A total of 799.98 square yards were auctioned in this area. In Nizampet–Bachupally, four plots and 1,653 sq. ft of flat space were sold for around Rs 70 lakh.

Details of Auctioned Plots

The auction included 3,271 sq. yards in Gachibowli, 799.98 sq. yards in Chintal, and 1,653 sq. ft of built-up area in Nizampet. Officials attribute the high bids to growing investor confidence, prime location advantage, and rising demand for well-planned residential and commercial properties in Hyderabad.

With rising land values and aggressive bidding, the Telangana Housing Board’s auctions continue to set new records, further cementing Hyderabad’s status as a real estate hotspot.