Real Estate Boom in Hyderabad: Gachibowli Plot Sold for Rs 33 Crore at Auction!

The real estate market in Hyderabad is on a record-breaking streak, with land prices continuing their upward surge. In a recent auction conducted by the Telangana Housing Board at KPHB Colony, a commercial plot in Gachibowli, Serilingampally mandal (Rangareddy district), was sold for a staggering ₹2.22 lakh per square yard — one of the highest ever recorded in the city.

Gachibowli Auction Highlights

Out of four premium plots auctioned in Gachibowli, all were sold at exceptional rates. The standout deal was for a 1,487 square yard plot near the popular Dog Park. With a base price of ₹1.20 lakh per square yard, the bidding escalated quickly, and the plot was eventually sold for ₹33 crore — translating to ₹2.22 lakh per square yard.

Widespread Interest Across Locations

The auction saw participation from 53 enthusiastic bidders. While Gachibowli drew the biggest bids, other areas also witnessed significant traction:

• Chintal (Quthbullapur mandal, Medchal district): Out of 10 MGI plots, 3 were sold, generating ₹8.11 crore in revenue.
• Bachupalli: 4 out of 8 plots found buyers. The highest bid was recorded for Plot F17 in B-1 Block, which went for ₹18.21 lakh.

Government Revenue Surges

Housing Board Commissioner Gautam revealed that the total revenue generated from the auction amounted to ₹65 crore. Of this, the Gachibowli plots alone accounted for ₹55.56 crore, underscoring the massive demand for commercial real estate in Hyderabad’s IT corridor.

Booming Real Estate Sector

The auction results reflect the ongoing boom in Hyderabad’s real estate sector, particularly in high-demand zones like Gachibowli. With infrastructure, connectivity, and commercial interest rapidly growing in these areas, land prices are expected to maintain their upward momentum.