Telangana Housing Board Sells ₹140 Crore in Raviryal Land Auction
The Telangana Housing Board's recent Raviryal land auction netted ₹140 crore, reflecting strong demand from both firms and developers interested in investments near Hyderabad's international airport and proposed Future City. The sale underscored the value of government-owned land with clear titles.
Highlights
- •- Telangana Housing Board earns ₹140 crore from Raviryal land auction
- •- High bids at ₹83,500 per square yard for prime plots
- •- E-auctions also scheduled for KPHB Colony and Qutbullapur-Chintal areas
- •- Proximity to Rajiv Gandhi International Airport drives demand
Hyderabad, India - The e-auction conducted by the Telangana Housing Board in Raviryal village, located near Hyderabad's Rajiv Gandhi International Airport, garnered strong interest and fetched a total of ₹140 crore. This auction, held under the ambit of the government's land monetisation drive, attracted bids from 17 firms and developers, signaling significant investment potential in the Future City area.
Competitive Bidding for Prime Plots
The highest bidder secured a 1,113-square-yard plot at ₹83,500 per square yard, well above the minimum bid of ₹26,000. A 6,000-square-yard lot was sold at ₹62,500 per square yard, while intense competition also pushed up the price for a larger parcel measuring approximately 13,500 square yards.
According to officials from the Housing Board, the parcels' proximity to the proposed Future City and Rajiv Gandhi International Airport made them highly attractive. These locations offer ideal conditions for large-scale commercial and residential projects, driving up bids during the auction. The response was particularly strong due to the clear titles and litigation-free status of these government-owned land parcels.
The Telangana Housing Board has announced that another round of e-auctions is scheduled on Friday in KPHB Colony and Qutbullapur-Chintal areas, with plots ranging from 5,898 square yards to 3,388 square yards. These additional auctions will further support the board's land monetisation initiatives.
