While continuing with land auction in various districts, the state government has now put 2,246 flats in Rajiv Swagruha Corporation’s Sahabhavana township in Bandlaguda near Nagole and Jalaja township at Polepally in Khammam district for sale.
The Hyderabad Metropolitan Development Authority (HMDA) will conduct auctions on March 24 and is hoping to get about Rs 1,000 crore. For the first time, the state government has decided to auction flats in block/cluster and invited bids from builders and contractors instead of individuals. The contractors who purchase the flats will then renovate or complete them in all aspects before sale.
When Kokapet and Khanamet land auctions were conducted by the HMDA and TSIIC a few months ago, big land parcels even up to 25 acres were put for sale. All these were purchased by big reality firms.
Official sources said the housing board had conducted auction of flats in Sahabhavana township in Nagole and Sadhbhavana township at Pocharam in 2016. Many flats in Nagole are lying unsold for several years and some have not even been completed.
“The 2,246 flats are in 23 blocks/clusters. While 15 blocks are in Bandlaguda, eight are in Khammam. As many require repairs or incomplete, the flats are being sold on as is where is basis,” an official said.
The HMDA will complete common infrastructure such as internal roads by March 2023.
The flats include 1BHK, 2BHK and 3BHK deluxe. The upset price for Bandlaguda is Rs 2,200-2,700 per sqft and it is Rs 1,500-2,000 per sqft for Jalaja township in Khammam district.
The AP Rajiv Swagruha Corporation Limited flats project had begun about 14 years ago in united AP at Pocharam, Chandanagar, Bandlaguda, Khammam, Jawaharnagar and Gajularamaram. While flats in Chandanagar in the heart of the city were sold, those in outskirts such as Pocharam and Bandlaguda were left unsold/incomplete.
Before the auction, the Corporation would be returning the amounts paid by those who had initially booked the flats after deducting processing fee.
