The real estate market in Hyderabad is currently facing a slump when it comes to mid-range apartments.
However, high-end, luxury gated community projects are witnessing strong sales, especially with top elite brands. Interestingly, it's the buyers — not the sellers — who are driving up land values.
Here's a sneak peek.
In a recent auction, KPHB Colony saw an astonishing bid of Rs 2.98 lakh per square yard. A total of 18 vacant plots, ranging in size from 198 to 987 square yards, were put up for auction, which concluded at a massive Rs 142 crore.
Among them, Plot No. 22 stood out, fetching the highest bid of Rs 2.98 lakh per square yard. The auction attracted 84 bidders in total.
If land in KPHB is commanding such prices, what could be the value in Kokapet and other booming areas of the city?
Many are now saying that Hyderabad is fast catching up with Mumbai and Bengaluru in terms of land prices.
The surge indicates growing investor confidence and a shift toward premium real estate zones. Infrastructure development, connectivity, and proximity to IT hubs are key drivers pushing the demand in these areas even higher.
According to the auction conditions, buyers are required to deposit 25% of the bid amount within two days. This upfront payment is anticipated to generate an immediate revenue of Rs 35.34 crore for the Housing Board.
