Hyderabad: The Kukatpally Housing Board (KPHB) generated a revenue of Rs 47.14 crore through a public auction of 16 plots on Wednesday, September 2.
Telangana Vice Chairman VP Gautam said that while the minimum price was set at Rs 1.60 lakh per square yard, one plot was sold for Rs 2.7 lakh and another was purchased for Rs 2.36 lakh.
The average price per square yard in Wednesday’s auction stood at Rs 1.79 lakh. A total of 19 bidders took part in the auction.
Raidurg land auction
On August 28, the Telangana Industrial Infrastructure Corporation (TGIIC) had generated Rs 1,447.22 crore through the auction of a 5.38-acre plot in Raidurg. This set a new record for Hyderabad, fetching Rs 269 crore per acre.
Before that, the TGIIC auction of another Raidurg plot had fetched Rs 264 crore per acre, generating Rs 1,386 crore in revenue.
Together, the two auctions generated Rs 2,833.22 crore from 10.63 acre, at an average realisation of Rs 266.53 crore per acre.
