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The Telangana Housing Board conducted an online auction for over 7.5 acres of land in Kukatpally Housing Board colony, Hyderabad expecting to generate around INR 500 crore. The base price was set at INR 40 crore per acre, and the auction attracted active participation. In addition, 618 incomplete 3-BHK flats located in Pocharam and Gajularamaram are also being auctioned. The housing board has already earned more than INR 300 crore from earlier sales of open plots and Rajiv Swagruha flats, and the funds are being directed to affordable housing projects and the Indiramma scheme.
The Telangana Housing Board carried out a fresh round of auctions this week, offering over 7.5 acres of prime land in Kukatpally Housing Board (KPHB) colony. The auction was conducted online, with the process starting in the afternoon. Officials set the base price at INR 40 crore per acre and are expecting total earnings of nearly INR 500 crore. Advertisement
Along with this land parcel, the board has put up 618 unfinished 3-BHK flats located in Pocharam and Gajularamaram for auction. These flats, once completed, were originally planned for residential allocation but remained unsold, and the current move is aimed at unlocking value from these assets.
The land in Kukatpally is considered a high-value property, as the area has witnessed strong demand in past auctions. In Phase 4 of KPHB, a commercial acre had previously fetched INR 65.3 crore, while in Phase 7 plots were sold at a record INR 2.98 lakh per square yard. Officials have noted that although those earlier auctions brought higher per-square-yard returns, the latest offering involves a larger residential parcel, making direct comparisons less straightforward.
According to Vice Chairman V.P. Gautam, the housing board has already secured more than INR 300 crore through past auctions of open plots and Rajiv Swagruha flats. He also explained that the revenue generated will be directed towards affordable housing development and for supporting the Indiramma scheme in Telangana.
The auction reflects the housing board?s continuing efforts to generate funds through monetization of its land and housing assets, while also addressing financial needs of state housing schemes.
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