Record-breaking bid price at the Housing Board auction
Contrary to the predictions that the real estate boom in Hyderabad is slowing down, a recent transaction has proved otherwise. At an auction held in the Kukatpally Housing Board Colony, a plot was sold at a record-breaking price. The plot fetched an impressive Rs. 2.98 lakh per square yard. On Wednesday, the Telangana Housing Board conducted an auction for 18 vacant plots in Kukatpally Housing Board Colony Phase-7.
Plot number 22 was sold at this record price of Rs. 2.98 lakh per square yard. Housing Board Vice Chairman V.P. Gautam revealed that the auction generated revenue of Rs. 142.78 crore for the board. The auction covered 6,232 square yards across 18 plots, with the average price per square yard being Rs. 2.38 lakh. The buyers of these plots are required to pay one-fourth of the amount within two days. The plots auctioned ranged in size from 198 to 987 square yards, with plot number 22 achieving the highest bid. A total of 84 bidders participated in the auction.