Hyderabad: With land turning into a goldmine in the city, the Andhra Pradesh Housing Board (APHB) managed to net Rs 14.5 crore for an acre of land for the West Extension block of Eden Square at Hydernagar in Kukatpally on Monday.
While Rs 50,000 per sq yard was quoted for another piece of land at Vengalraonagar.
The earnings for the housing board in the open auction was Rs 276 crore. The board had put 18.75 acre of land at Hydernagar and 887 sq yards land at Vengalraonagar for the auction. The upset price was fixed at Rs 10 crore per acre for the 18.75 acre land at Hydernagar and Rs 45,500 per square yard for the Vengalraonagar plot.
While Aditya Housing and Infrastructure Co Ltd secured the land at Hydernagar in Kukatpally, Raju Vegesna builders bought the 887 sq yards plot.
APHB had conducted auctions for the land in Oct. 2007 also but cancelled the auction as the bidders reportedly formed a syndicate and quoted less price. Auction was conducted for two blocks at West Extension and Public Utility Block measuring 18.75 acres and 2.5 acres respectively at Kukatpally. The board had fixed Rs 9 crore as upset price for the auction then.
