KPHB Housing Board properties fetch record Rs 24.26 cr revenue
Hyderabad: Housing Board properties in the prime KPHB area once again commanded record prices, reflecting the strong demand for well developed, dispute free residential assets in the city. Open plots and flats auctioned on Friday witnessed intense bidding, generating total revenue of Rs. 24.26 crore for the Housing Board.
The public auction featured four open plots located in Dharma Reddy Colony (Phase I & II) and eight flats in Sampoorna Apartment, Phase 15 KPHB. Around 40 prospective buyers participated in the transparent bidding process, competing vigorously to secure properties in the sought after locality. According to Housing Board Vice-Chairman VP Gautham, the upset price for an LIG category plot was fixed at Rs. 1.30 lakh per square yard. However, buoyed by high demand, one plot was sold at a record Rs 2.65 lakh per square yard, while another fetched Rs. 2.41 lakh per square yard, nearly double the base price.
Similarly, the upset price for flats in Sampoorna Apartment was set at Rs 90 lakh. Competitive bidding drove prices significantly higher, with the highest flat selling for Rs 1.10 crore. Other flats were purchased for Rs. 1.08 crore, Rs. 1.07 crore, and Rs. 1.06 crore respectively.
The Vice-Chairman stated that the auction generated approximately Rs. 15.81 crore from open plots and Rs. 8.45 crore from flats, underscoring the continued demand for Housing Board properties in established residential zones like KPHB. The strong response highlights buyer confidence in government backed layouts offering clear titles, developed infrastructure, and premium location advantages.
