HYDERABAD – The real estate market in Greater Hyderabad has demonstrated exceptional vitality, following a recent land auction conducted by the Telangana Housing Board that saw a plot achieve a record-setting price. On Wednesday, the Housing Board auctioned 18 vacant plots situated in Phase 7 of the Kukatpally Housing Board Colony.
A standout moment occurred with Plot Number 22, which attracted an impressive winning bid of ₹2.98 lakh per square yard. This figure has been confirmed by officials as the highest price recorded for a square yard in the area in recent memory, underscoring the current surge in the city’s property sector.
The auction is anticipated to generate a substantial revenue of ₹142.78 crore for the Housing Board, according to VP Gautam, its Vice Chairman. In total, 6,232 square yards across the 18 plots were successfully auctioned, with the average price per square yard settling at ₹2.38 lakh. Buyers are obligated to remit one-fourth of the total amount within two days, which is expected to provide an immediate influx of ₹35.34 crore to the Housing Board.
The competitive event saw participation from a total of 84 individuals. The plots offered during the auction varied in size, ranging from 198 to 987 square yards.
