Hyderabad: The auction of open plots at the Kukatpally Housing Board (KPHB) Colony’s open plots in phase 7 by the state government has set new records with regard to the price per square yard on Wednesday, June 11.
As per reports, Telangana Housing Board secured Rs 142.78 crore from the sale of 18 open plots in KPHB.
According to Telangana Housing Board vice-chairman and commissioner of housing (full additional charge) VP Gautham, the highest bid was won at Rs 2.98 lakh per square yard for plot number 22.
The plots were auctioned on Wednesday at the local community hall, attracting 84 bidders and marking one of the highest per square yard rates in recent times in the city.
The average price across all 6,232 square yards that were auctioned stood at Rs 2.38 lakh per square yard.
The plots measured anywhere between 198 and 987 square yard.
Gautham disclosed that Rs 35.34 crore would be deposited by the successful bidders in two days, as buyers have been required to deposit one-fourth of the total bid amount immediately.
