Telangana Housing Board auction of plots, flats fetches Rs 44.24 crore

The Telangana Housing Board’s auction of 18 residential plots and four one-bedroom flats at Chintal raised Rs 44.24 crore. The highest bid for a High-Income Group plot was Rs 1.14 lakh per square yard. Commercial plots in KPHB will be auctioned next

Hyderabad: The Telangana Housing Board generated a revenue of Rs 44.24 crore through the auction of 18 open residential plots and four one-bedroom flats at Chintal under Qutbullapur limits on Monday.

Among the 18 open plots, 10 were High Income Group (HIG) and four were Middle Income Group (MIG). The upset price for HIG plots was fixed at Rs 80,000 per square yard, while for MIG plots, it was Rs 60,000 per square yard.

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In the auction, the highest bid quoted was Rs 1.14 lakh per square yard for a 513-yard HIG plot. Similarly, the highest bid for the MIG plots was Rs 72,000 per square yard. On average, Rs 91,947 per square yard was quoted in the auction, which saw participation from 27 bidders.

Among the four one-bedroom flats, three were sold for a total price of about Rs 45.85 lakh. The upset price for the 413-square-foot flat was fixed at Rs 15 lakh.

In a recent auction conducted by the Housing Board for different plots in Kukatpally Housing Board, an acre was bid for nearly Rs 70 crore. Another five commercial plots in KPHB Colony will go under the hammer in the e-auction on October 7 and 8, officials said, followed by six Raviryala plots near the airport auction on October 9 and 10.