HYDERABAD: The Telangana Housing Board (TGHB) has netted Rs 65.02 crore through the auction of open plots and flats in Gachibowli, Chintal and Nizampet.
An open plot measuring 1,487 sq. yds in Gachibowli fetched Rs 33.01 crore, with the bidding soaring to Rs 2.22 lakh per sq.yd, nearly double the upset price of Rs 1.20 lakh, setting a new benchmark in price per square yard.
Another plot in the same area, measuring 1,206 sq.yds, was auctioned for Rs 13.51 crore against the upset price of Rs 80,000 per sq.yd, ultimately selling for Rs 1.12 lakh per sq.yd.
The TGHB auctioned a total of 14 open plots (3,271 sq.yds) across Gachibowli and Chintal and eight flats in Nizampet, under the jurisdiction of the north division of TGHB. The auction was conducted at the community hall in KPHB Colony (Phase I & II). All four plots in Gachibowli were auctioned, while only three out of 10 plots in Chintal and four out of eight flats in Nizampet made the cut.
According to officials, approximately Rs 56 crore was raised from the Gachibowli plots alone. The remaining Rs 9 crore came from Chintal and Nizampet sales. In total, 53 applications were received, and the auction was conducted smoothly and transparently under TGHB supervision.
Earlier on June 11, the TGHB raised Rs 142.78 crore from the sale of 18 open plots in Phase-7 of Kukatpally Housing Board Colony. That auction saw one plot fetch a record Rs 2.98 lakh per sq.yd.