Hyderabad: Land prices in Kukatpally Housing Board Colony hit historic highs on Wednesday, with a government auction in Phase 7 sparking a fierce bidding war that broke all previous records.
The star of the show? A 151.92-square-yard plot near the Hi-Tech City Railway Over Bridge, right on the bustling JNTU-Hi-Tech City stretch. Plot No. 10 pulled in an eye-popping ₹2.98 lakh per square yard—the highest ever for the area—sending a jolt through Hyderabad’s already surging real estate market.
The bidding unfolded at the Phase 7 community hall, where 18 open plots went under the hammer over the course of the day. Of those, 13 crossed the ₹2 lakh per square yard mark, while the remaining five went for less. The lowest was ₹1.14 lakh per square yard, for plot No. 18.
Seventeen plots came from the rapidly developing Phase 7 locality. The lone exception—a small 36.16-square-yard commercial plot in Kaithlapur—drew the lowest bid of the day despite its location potential.
Big-ticket sales included plot 12 (921.13 sq. yds), plot 13 (789.27 sq. yds), and plot 14 (978.92 sq. yds). In total, the auction covered more than 6,236 square yards and brought in a jaw-dropping ₹141.36 crore for the Housing Board. Officials said the average price came out to ₹2.38 lakh per square yard.
With 84 bidders vying for just 18 plots, the atmosphere was intense. Officials said the turnout and final figures exceeded expectations, making it one of the Housing Board’s most successful auctions in years, if not ever.
