Hyderabad: KPHB plots and flats witnessed intense competition in a public auction conducted by the Housing Board on Friday, fetching record prices.
The Board auctioned four open KPHB plots in Dharmareddy Colony (Phase 1 and 2) and eight flats in Sampoorna Apartments (Phase 15). Around 40 bidders participated in the auction.
Strong demand for KPHB plots and flats
The Board fixed the upset price for an LIG category plot at ₹1.30 lakh per square yard. However, bidders pushed the price up to ₹2.65 lakh per square yard for one plot, while another fetched ₹2.41 lakh per square yard.
Similarly, the Board set ₹90 lakh as the upset price for flats in Sampoorna Apartments. Buyers competed aggressively, and the highest bid touched ₹1.10 crore. Other flats sold for ₹1.08 crore, ₹1.07 crore and ₹1.06 crore.
Housing Board Vice Chairman V.P. Goutham said the transparent auction generated about ₹24.26 crore in total revenue. Of this, open KPHB plots contributed ₹15.81 crore, while flats brought in ₹8.45 crore.
He added that the strong response reflected the high demand for dispute-free properties with developed infrastructure in the KPHB area.