Housing Board lands fetch Rs 34.27 cr in record auction

Hyderabad’s real estate market continued its strong momentum as Housing Board properties in key city locations fetched impressive prices at a public auction held on Monday, generating revenue of Rs 34.27 crore. The Housing Board had issued a notification on February 9 to auction 14 properties located in Gachibowli, Bowrampet, Balaji Nagar (Kukatpally), Chintal and other areas.

The auction was conducted at the KPHB Housing Board Community Hall, where around 50 bidders participated. Among the properties sold, most were MIG and HIG category plots, except for one land parcel in Bowrampet and a flat in Bachupally. Strong competition was witnessed for prime plots, particularly in Gachibowli and Kukatpally.

A 263 square yard plot in Gachibowli, with an upset price of Rs 50,000 per square yard, ultimately fetched Rs 1.76 lakh per square yard in the auction. Similarly, a 266 square yard plot in Balaji Nagar, Kukatpally, was sold at Rs 1.64 lakh per square yard. Open plots in Chintal also saw good demand, selling at Rs 84,000 and Rs 74,000 per square yard.

Another plot in Gachibowli fetched Rs 1 lakh per square yard. In Bowrampet, a 2,600 square yard land parcel was sold at Rs 61,000 per square yard. In the residential segment, a Siddhi flat in Nizampet, with a minimum price fixed at Rs 15 lakh was sold for Rs 17.70 lakh in the auction. The strong response to the auction reflects sustained demand for well located Housing Board properties in Hyderabad.