Telangana Govt gains Rs 62 Cr through auction of plots in Hyderabad

Hyderabad: The Telangana government has successfully sold a commercial plot in Gachibowli Housing Board Colony measuring 1,487 sq ft, at the rate of Rs 2.22 lakh per sq ft, for a whopping Rs 33 crore during an auction held at the Kukatpally Housing Board Colony’s (KPHB) community hall on Monday, June 22.

Telangana Housing Board vice-chairman and commissioner VP Gautam has stated on Tuesday, June 23, that Rs 62.02 crore revenues were accumulated through the sale of 11 plots in Gachibowli, Nizampet and Quthbullapur.

During the auction of plots in Gachibowli, a land belonging to a school measuring 1,200 sq ft was sold at Rs 1.12 lakh per sq ft. Two more Middle Income Group (MIG) plots in this area which had an offset price of Rs 1.86 lakh per sq ft, were sold at Rs 1,32 lakh per sq ft.

While the commercial space’s offset was established at Rs 1.20 lakh per sq ft, the offset price for the school’s plot was arrived at Rs 80,000 per sq ft.

Auction was also held for flats at Bachupalli of Nizampet municipality for 10 flats, out of which 4 flats measuring 413 sq ft each, fetched Rs 62.02 lakh.

In a similar way, land rates sky-rocketed at Chintal locality of Quthbullapur municipality, where 10 MIG plots were auctioned measuring 266 sq yd each.

From the auction of plots 113, 114 and 115 alone, the housing board has gained revenues of Rs 8.11 crore.

In Gachibowli alone, Rs 55.56 crore was the revenue generated through auctions.

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