Hyderabad, June 23 -- The Telangana government has successfully sold a commercial plot in Gachibowli Housing Board Colony measuring 1,487 sq ft, at the rate of Rs 2.22 lakh per sq ft, for a whopping Rs 33 crore during an auction held at the Kukatpally Housing Board Colony's (KPHB) community hall on Monday, June 22.

Telangana Housing Board vice-chairman and commissioner VP Gautam has stated on Tuesday, June 23, that Rs 62.02 crore revenues were accumulated through the sale of 11 plots in Gachibowli, Nizampet and Quthbullapur.

During the auction of plots in Gachibowli, a land belonging to a school measuring 1,200 sq ft was sold at Rs 1.12 lakh per sq ft. Two more Middle Income Group (MIG) plots in this area which had an offset price of Rs...