Telangana Housing Board’s Plot Auction Sees Record-Breaking Bids in Hyderabad
The Telangana Housing Board’s North Division successfully concluded its auction of plots in Hyderabad on Thursday, with three out of seven plots sold at impressive rates.
Hyderabad: The Telangana Housing Board’s North Division successfully concluded its auction of plots in Hyderabad on Thursday, with three out of seven plots sold at impressive rates. The auction saw competitive bidding, with a residential plot in Gachibowli setting a new benchmark at Rs 1.90 lakh per square yard.
The highly sought-after 81.45 square yard residential plot in Gachibowli fetched the highest bid, reflecting the area’s strong real estate demand. Additionally, commercial plots in Kukatpally Balajinagar witnessed significant bidding activity. An 87.98 square yard commercial plot was sold for Rs 1.85 lakh per square yard, while another 92.36 square yard plot went for Rs 1.75 lakh per square yard.
Despite legal hurdles concerning two of the auctioned plots, the proceedings remained unaffected as the Telangana Housing Board received favorable court rulings, ensuring a smooth auction process.
Key officials present at the auction included Executive Engineer Ankam Rao, Estate Officer Vimal, Assistant Executive Officer Sujan, and Public Relations Officer Vasu. The successful bidders were instructed to complete 25% of the payment via demand drafts within 48 hours to secure their acquisitions.
The high bids recorded in this auction indicate the continued demand for premium real estate in Hyderabad, particularly in rapidly growing areas like Gachibowli and Kukatpally. The Telangana Housing Board is expected to conduct more such auctions in the future, catering to increasing interest from investors and developers.
