KPHB Plots and Flats Fetch Record Prices in Auction

The Telangana Housing Board's auction for open plots in Kukatpally Housing Board (KPHB) set new records as land was sold for unprecedented prices. The auction, held on Friday, saw a square yard of land being sold for a record-breaking 2.65 lakh, surpassing the upset price of 1.30 lakh per square yard.

A total of four open plots in Phases I and II of Dharma Reddy Colony and eight flats in Sampoornam Apartment, Phase-15 of KPHB, were put up for auction. Another plot was sold at 2.41 lakh per square yard, marking the highest price per square yard of land. Additionally, a flat in Sampoornam apartment fetched 1.10 crore, surpassing the upset price of 90 lakh. Other flats sold for between 1.08 crore and 1.06 crore.

Housing Board vice-chairman VP Gautham revealed that the Board earned a total of 24.26 crore through the public auction, with 15.81 crore from open plots and 8.45 crore from flats in Sampoornam apartments.

The auction's success is a testament to the strong demand for properties in the KPHB area, reflecting the robust real estate market in Hyderabad.