Hyderabad's Land Frenzy: KPHB Colony Prices Soar to Record-Breaking Heights

The real estate market in Hyderabad is absolutely buzzing, and nowhere was that more evident than at a public auction held yesterday (Wednesday) in Kukatpally Housing Board (KPHB) Colony. Land prices there didn't just climb; they shattered all previous records, with a single plot fetching an astonishing ₹2.98 lakh per square yard! This marks the highest rate seen in recent times, according to jubilant Housing Board officials.

The auction, which took place at the KPHB Phase-7 Community Hall, saw 18 highly coveted vacant plots go under the hammer, varying in size from a cozy 198 to a spacious 987 square yards. Among these, plot number 22 became the star of the show, attracting the highest bid of the day and significantly contributing to the auction's impressive overall earnings of ₹142.78 crore.

A total of 84 eager bidders participated in the event, a clear sign of the intense demand for land in this prime residential and commercial hub of Hyderabad. In total, 6,232 square yards of land were auctioned off, with the average price across all plots settling at a robust ₹2.38 lakh per square yard.

V.P. Gautam, the Housing Board Vice Chairman, who personally oversaw the proceedings, couldn't hide his satisfaction with the overwhelming response. He noted that these record-breaking prices are a clear testament to the sustained growth and surging investor confidence in Hyderabad’s vibrant urban development and infrastructure.

Following the auction guidelines, successful bidders are now required to deposit 25 percent of their total bid amount within two days. This upfront payment is expected to bring in a healthy ₹35.34 crore in immediate revenue for the Housing Board.

Officials are now keenly observing these results, believing that the phenomenal success of this auction could very well set a strong precedent for future land sales in Hyderabad’s rapidly expanding suburbs and meticulously planned colonies. It's clear that the city's real estate sector continues to be a hotbed of activity and investment.