The Telangana Housing Board conducted an auction of 16 MIG open plots in KPHB Phase-7, which has drawn significant attention to the current state of the city’s real estate market. The auction results showed strong competitive bidding, with prices substantially exceeding the reserve rates set by the board.
The plots were listed with a reserve price of ₹1.60 lakh per square yard. However, the competitive nature of the auction drove prices considerably higher. The highest bid reached ₹2.70 lakh per square yard, while another plot fetched ₹2.36 lakh. Two additional plots were sold at ₹2.06 lakh per square yard, and the average selling price across all plots stood at ₹1.79 lakh per square yard.
The auction attracted 19 bidders competing for the 16 available plots, demonstrating active market participation. The total revenue generated from the auction amounted to ₹47.14 crore for the Telangana Housing Board. The participation level and final prices have become a point of discussion regarding the health of Hyderabad’s real estate sector.
Supporters of Chief Minister Revanth Reddy’s government have pointed to these auction results as evidence of renewed confidence in the real estate market. They attribute the strong bidding response to policy changes and administrative approaches implemented by the current government. The auction’s success has been contrasted with previous periods characterized by different administrative practices.
The auction results have sparked political commentary, with references being made to the BRS party’s claims about the real estate market. The competitive bidding and high prices achieved in the auction have been cited as contradicting assertions about market decline. Political observers note that the auction data provides concrete metrics for evaluating market conditions.
The KPHB Phase-7 auction represents one of several land sales conducted by the Telangana Housing Board in recent months. The board continues to manage government-owned land assets across various locations in and around Hyderabad. The auction generated ₹47.14 crore in total revenue, with the average price per square yard settling at ₹1.79 lakh, significantly above the reserve price of ₹1.60 lakh.
