KPHB Open Plots Auction Sees Record-Breaking Prices in Hyderabad
In a significant boost to Hyderabad’s booming real estate sector, government officials conducted an open auction for vacant government plots at Kukatpally Housing Board (KPHB) Colony.
Hyderabad: In a significant boost to Hyderabad’s booming real estate sector, government officials conducted an open auction for vacant government plots at Kukatpally Housing Board (KPHB) Colony. The auction witnessed record-breaking prices, marking a first-of-its-kind rise in recent years, according to housing board officials.
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Massive Demand for KPHB-Hitech City Roadside Plots
The auction featured 18 plots, most of which were situated in Phase-7 of the KPHB Colony, with one located in Kaithlapur. The proximity of these plots to the prime Hitech City road increased their demand substantially. The auction took place on Wednesday at the local community hall and attracted 84 participants.
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Highest Bid Reaches ₹2.98 Lakh Per Sq. Yard
Among the auctioned plots, the highest price was recorded for Plot No. 10, measuring 151.92 square yards, which sold for an impressive ₹2.98 lakh per square yard. In contrast, the lowest bid was for Plot No. 18, which sold for ₹1.14 lakh per square yard.
Out of the 18 plots, 13 fetched prices above ₹2 lakh per square yard, while the remaining 5 sold for slightly lower prices.
Government Earns Over ₹141 Crores From Auction
The total area auctioned covered 6,236.33 square yards. Through this auction, the government earned a whopping ₹141,36,89,100 (over ₹141 crores). Officials stated that this level of demand for government-conducted auctions has not been seen in recent years.
Real Estate Market in Hyderabad Booming
Officials and real estate experts view this auction as a clear indicator of Hyderabad’s rising property market. The KPHB area, especially near Hitech City, continues to witness soaring property values, making it one of the city’s most sought-after locations for both residential and commercial investments.
Increased Investor Confidence in Government Auctions
The strong participation from 84 bidders reflects growing confidence among investors in government-conducted property auctions. Experts believe that such auctions not only ensure transparency but also highlight the city’s strong economic growth and infrastructure development.
