KPHB auction sets new benchmarks, sold plot for Rs 2.65 lakh per sq yard
Kukatpally Housing Board plots and flats received strong response at an open auction in Hyderabad on Friday. Forty buyers participated, pushing prices well above the base rates. The Telangana Housing Board earned about Rs 24.26 crore from the sale
Hyderabad: Kukatpally Housing Board (KPHB) plots and flats attracted record bids at an open auction held on Friday.
The auction covered four open plots in Phases 1 and 2 of Dharmareddy Colony and eight flats in the Sampoorna Apartments in Phase 15.
In an official release, the Telangana Housing Board vice chairman V P Gautam said, “A total of 40 buyers took part in this auction. The minimum price for an LIG category plot was set at Rs 1.30 lakh per square yard, but one plot was sold for Rs 2.65 lakh per square yard, while another fetched Rs 2.41 lakh per square yard.”
For the vacant flats in Sampoorna Apartments, the upset price was set at Rs 90 lakh. Buyers bid up to a maximum of Rs 1.10 crore for a 1,400 sq ft flat, while other flats were sold for Rs 1.08 crore, Rs 1.07 crore and Rs 1.06 crore, he said.
The Housing Board generated approximately Rs 24.26 crore through the auction, including Rs 15.81 crore from open plots and Rs 8.45 crore from flats in Sampoorna Apartments, it said.