Hyderabad: The Housing Board has once again witnessed record prices in the public auction of its lands in the surrounding areas of the state, with the sale of eleven plots generating over Rs 65 crore.
According to officials, the Housing Board conducted a public auction on Monday for various types of plots in Chintal, Gachibowli, Nizampet, and other parts of the city. These included residential plots measuring 266 square yards in Chintal, and commercial and 413 square yard plots in Nizampet. The Housing Commissioner stated that 55 individuals participated in the auction of these plots, which was held at the KPHB Colony Community Hall in Kukatpally.
A commercial plot in the Gachibowli area was purchased for a remarkable Rs 33 crore, while another fetched Rs 13.51 crore. Two Middle Income Group (MIG) plots were also acquired in the public auction for over Rs 4.50 crore. Similarly, plots in the Chintal area were also sold for crores of rupees. In total, 11 plots were auctioned, generating a revenue of Rs 65.02 crore, as confirmed by Housing Board Vice Chairman and Housing Commissioner V P Gautam.
The Housing Board Vice Chairman further elaborated that 1,487 square yards of commercial land in the Gachibowli Housing Board colony were purchased for approximately Rs 33 crore, at a rate of Rs 2.22 lakh per yard. The offset price for these lands had been fixed at Rs 1.20 lakh per square yard, demonstrating a significant increase during the auction. Similarly, the offset price for 1,200 square yards of school lands in the same area was set at Rs 80,000 per square yard, but these lands were acquired at auction for Rs 1.12 lakh. Additionally, two MIG plots in Gachibowli were sold at Rs 1.86 lakh and Rs 1.32 lakh per square yard respectively. The Housing Board generated an income of Rs 55,56,84,000 (Rs 55.56 crore) from the lands related to the Gachibowli area alone.
Furthermore, Housing Board MIG plots in the Chintal area of Quthbullapur mandal were also sold at exorbitant prices in the public auction.
A total of ten plots were auctioned in this area, with plots no 113, 114, and 115 alone generating an income of approximately Rs 8.11 crore. Four plots in Nizampet-Bachupalli were purchased at auction for around Rs 70 lakh.
