HYDERABAD: Land parcels of the Telangana Housing Board in several parts of the city once again attracted high bids at a public auction held on Monday.
A plot in Gachibowli fetched ₹1.76 lakh per square yard, while a plot in Kukatpally's Balaji Nagar was sold at ₹1.64 lakh per square yard.
Around 50 bidders participate in auction
The Housing Board had issued a notification on February 9 to auction 14 properties located in Gachibowli, Bowrampet, Balaji Nagar and Chintal. The auction was conducted at the KPHB Housing Board Community Hall, with around 50 bidders taking part.
Except for a land parcel in Bowrampet and a flat in Bachupally, the remaining properties were MIG and HIG category plots, leading to competitive bidding.
A 263 sq yard plot in Gachibowli, with an upset price of ₹50,000 per sq yard, was sold at ₹1.76 lakh per sq yard. Similarly, a 266 sq yard plot in Balaji Nagar, Kukatpally, fetched ₹1.64 lakh per sq yard.
Open plots in Chintal were sold at ₹84,000 and ₹74,000 per sq yard, reflecting strong demand, Housing Board vice-chairman V P Gautam said.
A Siddhi flat in Nizampet, with an upset price of ₹15 lakh, was purchased for ₹17.70 lakh. Another plot in Gachibowli fetched ₹1 lakh per sq yard.
A 2,600 sq yard land parcel in Bowrampet was sold at ₹61,000 per sq yard.
Overall, the Housing Board generated ₹34.27 crore from Monday's auction, Gautam added.