KPHB plot fetches record 2.98 lakh per sq yd in Telangana Housing Board auction

The auction of 18 plots generated Rs 142.78 crore in revenue, with 84 bidders competing for 6,232 square yards of prime land.

Hyderabad: A plot in Kukatpally Housing Board (KPHB) Colony fetched a record price of Rs 2.98 lakh per square yard in an auction conducted by the Telangana Housing Board on Wednesday.

According to an official press release issued late Wednesday night, the Housing Board auctioned 18 vacant plots in Phase 7 of KPHB Colony, generating a total revenue of Rs 142.78 crore. The size of the plots ranged from 198 square yards to 987 square yards.

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Plot number 22 fetched the highest price of Rs 2.98 lakh per square yard, marking a record for the area. A total of 84 bidders participated in the auction, the statement said.

Housing Board Chairman V. P. Gautam stated that 6,232 square yards of land were auctioned, yielding an average price of Rs 2.38 lakh per square yard.

Those who won the bids are required to deposit 25% of the bid amount within two days, as per auction terms and conditions, the press release added.