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Telangana Govt earns Rs 567 crore from land auctions

The Hyderabad Metropolitan Development Authority (HMDA) conducted the auctions in Rangareddy, Medchal Malkajgiri, Vikarabad, Nalgonda, Mahbubnagar, Kamareddy, Jogulamba Gadwal, Peddapally and Adilabad districts.

Land auctions held in nine districts for four days between March 14 and 17 fetched 567 crore to the state government. The auctions concluded on Thursday. While the government put 1,356 plots for auctions, 1,227 plots were sold and 129 were unsold in the auctions.

The Hyderabad Metropolitan Development Authority (HMDA) conducted the auctions in Rangareddy, Medchal Malkajgiri, Vikarabad, Nalgonda, Mahbubnagar, Kamareddy, Jogulamba Gadwal, Peddapally and Adilabad districts. Officials said the real estate boom is being seen across the state and not confined to HMDA limits alone.

Of the amount received through auctions, 335 crore came from HMDA limits, while the balance 232 crore accrued from various districts.

The maximum amount was received in Thorrur (194 crore) in Rangareddy and Bahadurpally (140 crore) in Medchal district, municipal administration special chief secretary Arvind Kumar said.

According to officials, the highest bid price was 50,000 per square yard as against the upset price of 20,000 in Thorrur while the highest bid price in Bahadurpally was 38,500 per square yard as against an upset price of 25,000.

After Rangareddy, Mahbubnagar, which is close to Hyderabad, fetched 90 crore. Gadwal and Kamareddy brought in 51 crore and 34 crore, respectively. Among rural districts, Adilabad got 3.41 crore and Vikarabad fetched 90 lakh.

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