Hyderabad: The Telangana Housing Board’s latest auction of properties within the Greater Hyderabad limits drew a lukewarm response, with less than half the assets finding buyers.
While a record rate of ₹2.98 lakh per square yard was previously seen at Kukatpally, Monday’s auction saw Gachibowli—located in the IT corridor—register the highest bid at ₹2.22 lakh per square yard. The lowest bid in the same area stood at ₹1.12 lakh. All four plots listed in Gachibowli were sold.
In Chintal, of the 10 plots offered, only three were purchased. Against a base rate of ₹80,000 per square yard set by the Board, the highest bid reached ₹1.14 lakh and the lowest ₹86,000.
Eight apartment units at Nizampet, each measuring 413.43 square feet, were also put up for auction. Only four were sold. While the Board had fixed the rate at ₹16.55 lakh per flat, bids ranged from ₹16.73 lakh to ₹18.21 lakh.
Revenue from the auction totalled ₹65.01 crore, according to officials. This included the sale of 3,271 square yards in Gachibowli, 799 square yards in Chintal, and four flats in Nizampet. The average price in Gachibowli was ₹1.63 lakh per square yard, while in Chintal it was ₹1.01 lakh.
Of the 22 total assets put on the block, only 11 were sold.
