Record sale in Hyderabad: Kukatpally Housing Board plot auctioned for Rs 2.98 lakh per square yard

“This remarkable response is undeniable proof of the robust growth in Hyderabad’s real estate,” said Housing Board officials, their satisfaction palpable. The soaring land prices, they noted, reflect the city’s increasing allure for investors and homeowners alike.

The auction was a resounding success for the Housing Board, raking in an impressive Rs 142.78 crore in revenue. In total, 6,232 square yards were auctioned, with the average price across all plots settling at a healthy Rs 2.38 lakh per square yard.

The immediate impact of this land-sale frenzy will be felt within days, as buyers are required to submit 25 per cent of their bid amount within two days. This initial wave of payments alone is projected to inject a substantial Rs 35.34 crore directly into the Housing Board’s coffers, providing a significant financial boost.

The KPHB auction serves as a compelling indicator of Hyderabad’s continued ascent as a top-tier real estate destination, leaving many to wonder just how high the city’s land prices will climb next.