In a record-setting real estate deal, one acre of land in Kukatpally Housing Board (KPHB) Colony was sold for ₹70 crore. The location’s proximity to Hi-Tech City and major MNCs has made land availability nearly impossible.
A 7-acre 33-gunta land parcel in KPHB Phase 4 fetched a total of ₹547 crore in an e-auction. Leading developers like Aurobindo Realty, Godrej Properties, Prestige Estates and Ashoka Builders participated. The Housing Board had set a base price of ₹40 crore per acre.
After 46 rounds of bidding, Godrej Properties secured the land at ₹70 crore per acre. Authorities stated that the revenue will be utilised to build housing for middle-class and low-income families.
Rs 70.11 Crore Revenue in Rajiv Swagruha Projects
The government also earned ₹70.11 crore through the sale of incomplete flats under Rajiv Swagruha Corporation. A total of 194 flats in two towers at Pocharam township and 112 flats in one tower at Gajularamaram were allotted via lottery. Prices were set at ₹1,650 per sq ft in Pocharam and ₹1,995 per sq ft in Gajularamaram.
In Pocharam, 72 flats in one tower were given to NTPC Employees Association for ₹13.78 crore, while 122 flats in another tower were allocated to Gayatri Education and Cultural Trust for ₹30 crore. Flats in Gajularamaram were sold to FCI Employees Association for ₹26.33 crore.
