Telangana Housing Board Auction in Hyderabad..1487 yards plot fetched Rs.33 crores

REG News, Hyderabad, June 23: Record-breaking prices were once again set in the open auction of lands belonging to the Telangana Housing Board. While a commercial plot in the Gachibowli area was sold for Rs.33 crores, another one was for Rs. 13.51 crores. Plots in the Chintal area were also bought at high prices, the Housing Board said in a press release. A total of 11 plots were auctioned, raising a revenue of Rs 65.02 crore, Telangana Housing Board Vice Chairman V.P. Gautam said. Telangana Housing Board officials held a public auction on Monday for several plots in Chintal, Gachibowli, Nizampet and other areas of Hyderabad. These included 266 square yard plots in Chintal area, commercial plots in Gachibowli area and 413 square yard plots in Nizampet. The Housing Commissioner said that 55 people participated in the auction held at the KPHB Colony Community Hall in Kukatpally. Land measuring 3271 square yards in Gachibowli, 799.98 square yards in Chintal and 1653 square feet in Nizampet were auctioned, generating a revenue of Rs. 65.02 crore for the board. Rs. 56 crore in Gachibowli auction * 1487 yards of commercial plot in Gachibowli Housing Board Colony was purchased for Rs. 2.22 lakh per yard, or approximately Rs. 33 crore. The offset price for these lands was Rs. 1.20 lakh per square yard, but it was sold at Rs. 2.22 lakh in the auction. The offset price for 1200 yards of school lands in the same area was Rs. 80 thousand per square yard, but it was bought at Rs. 1.12 lakh in the auction. The two MIG plots here were sold at Rs. 1.86 lakh per square yard and Rs. 1.32 lakhs were sold. The Housing Board earned an income of Rs. 55.56 crores from the lands related to the Gachibowli area alone. Chintal land rates.. The Housing Board MIG plots in the Chintal area of ​​Quthbullapur mandal were also sold in public auction at a higher price. A total of ten plots were auctioned in this area, of which plot no. 113, 114, 115 alone generated an income of about Rs. 8.11 crores. Four plots in Bachupalli, Nizampet were purchased at auction for about Rs. 70 lakhs. And, how were the four plots in this area sold for such a low price? What is their actual area? The main reasons for the buyers not coming forward to buy them are not known.