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Hyderabad Businessman Invests Rs 25.5 Lakhs For '9999' Number Plate: All Details Here
A businessman from Hyderabad, Telangana, has made headlines by spending Rs. 25.5 lakhs on a fancy number plate for his Toyota Land Cruiser LX. This significant expenditure has raised questions about the value of his vehicle and the trend of purchasing unique number plates.
The Regional Transport Office (RTO) provides number plates, which are crucial for vehicle identification. However, affluent individuals often buy fancy number plates to distinguish their vehicles. In this case, the businessman acquired the number '9999' for his luxury SUV.
Recently, the Khairatabad RTO in Hyderabad's central zone held an auction for fancy number plates. The auction generated a revenue of Rs 43,70,284. Various fancy number plates with the Telangana state 'TG' code were auctioned during this event.
The auction for the number plate 'TG-09-9999' was particularly competitive. Ultimately, a businessman from Sony Transport Solutions in Hyderabad secured it for Rs 25,50,002. This single purchase accounted for more than half of the total revenue from the auction.
The businessman bought this fancy number plate for his Toyota Land Cruiser LX, which has an ex-showroom price of Rs 2.1 crores. This luxury SUV is known for its high performance and premium features.
Other notable sales at the auction included a number plate ending with '0006' sold for Rs 2.76 lakhs and others sold for Rs 1.80 lakh and Rs 1.20 lakh respectively.
It is important to note that the Telangana government has updated the state code on vehicle number plates from 'TS' to 'TG'. The purchase by Sony Transport Solutions set a new record in Telangana, surpassing the previous highest bid of Rs. 21.6 lakh for a '9999' number plate in August last year.
DriveSpark Thinks
While Rs 25.5 lakhs is a substantial amount in Telangana, it pales in comparison to global figures. For instance, in Dubai last April, the number plate 'Dubai B7' was auctioned for approximately Rs 122 crores in Indian rupees.
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