Special Offer!

Prime Land Sale to Fund Affordable Housing in Telangana

Telangana Housing Board to Auction 7.5 Acres in Hyderabad, ₹500 Crore Expected.                                                                                                                                

The Telangana Housing Board (THB) is set to auction over 7.5 acres of prime residential land at Kukatpally Housing Board Colony (KPHB) on Wednesday, with expectations of raising nearly ₹500 crore. The upset price is fixed at ₹40 crore per acre, and the e-auction began at 3 pm. Alongside, 618 unfinished 3BHK flats in Pocharam and Gajularamaram are also on the block. The board’s confidence stems from earlier auctions, where commercial land fetched over ₹65.3 crore per acre and a record ₹2.98 lakh per sq yd in KPHB. However, officials expect lower per sq yd rates this time, given the large parcel size. Funds generated will be directed towards affordable housing projects and the Indiramma housing scheme, building on the ₹300 crore already raised in the past two months through plot and flat auctions.