Godrej Properties Buys KPHB Land at Record Price of ₹70 Crores per Acre

The Hyderabad real estate market has once again witnessed record land prices. In a government e-auction conducted by the Telangana Housing Board at Kukatpally Housing Board (KPHB), Godrej Properties purchased land at ₹70 crores per acre.

The auction, which lasted for nearly three hours, saw intense bidding with the base price starting at ₹40 crores per acre. In the end, the bid price was revised 46 times before Godrej Properties secured the deal. Along with Godrej, leading companies like Aurobindo Realty, Prestige Estates, and Ashoka Builders also participated, revealed Housing Board Vice Chairman V.P. Gautam.

Through this auction, the Telangana government earned ₹547 crores in a single day. Officials announced that these funds will be utilized for housing schemes for the poor and middle-class families, particularly for the government’s flagship Indiramma Housing Scheme, which offers financial assistance of ₹5 lakhs to beneficiaries.

Meanwhile, the Rajiv Swagruha Corporation also sold its incomplete assets. By selling three unfinished towers in Pocharam and Gajularamaram townships, the corporation earned an additional ₹70.11 crores.