Future City land auction fetches Rs 83,500 per sq yd

Metro India News | Hyderabad 

The Telangana Housing Board recorded a strong response to its e auction of premium land parcels at Raviryal in Maheshwaram mandal near the proposed Future City and Hyderabad airport, with land prices touching a record Rs 83,500 per square yard.

According to Housing Board Vice Chairman V.P. Gautham, the auction of four land parcels on Thursday generated nearly Rs 140 crore in revenue for the Board. The plots, ranging from 1,000 to 13,500 square yards, attracted intense competition from around 17 firms and developers due to their strategic location, clear title, and proximity to the Future City entrance corridor.

One of the most sought after parcels measuring 1,113 square yards witnessed aggressive bidding. While the base price was fixed at Rs 26,000 per square yard, the final bid reached Rs 83,500 per square yard. Another parcel measuring nearly 6,000 square yards was sold at Rs 62,500 per square yard.

Officials stated that the strong response reflects growing investor confidence in the Future City region and increasing demand for government owned lands with dispute free titles.

The Housing Board will continue the e auction process on Friday for four additional land parcels located at KPHB Colony and Chintal in Qutbullapur. The properties include plots measuring 5,898 square yards and 2,420 square yards in KPHB Phase 1 and 2, along with 10,890 square yards and 3,388 square yards in Chintal.