The real estate market in Hyderabad is hitting new records, with land prices climbing steeply. Recently, the Telangana Housing Board held an auction at KPHB Colony, where a commercial plot in Gachibowli, Serilingampally mandal, was sold for an incredible ₹2.22 lakh per square yard. This is one of the highest prices ever seen in the city.
During the Gachibowli auction, four prime plots were up for bidding. All of them sold at very high prices. The most notable was a 1,487 square yard plot near Dog Park. Its starting price was ₹1.20 lakh per square yard, but bidding quickly soared. In the end, it sold for ₹33 crore, or ₹2.22 lakh per square yard.
The auction attracted 53 interested bidders. Gachibowli received the most bids, but other locations also saw strong interest. In Chintal, Quthbullapur mandal, Medchal district, three out of ten MGI plots sold, bringing in ₹8.11 crore. In Bachupalli, four out of eight plots found buyers. The highest bid there was for Plot F17 in B-1 Block, which sold for ₹18.21 lakh.
Housing Board Commissioner Gautam reported that the total revenue from the auction was ₹65 crore. Of this, Gachibowli plots brought in ₹55.56 crore. This shows how strong the demand is for commercial property in Hyderabad’s IT corridor.
This auction shows the steady growth of Hyderabad’s property market. Areas like Gachibowli, with better roads and business activity, see property prices keep rising. Land prices are likely to stay strong in the coming months.