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Telangana govt eyes Rs 3,000 crore from land & flat sales in two months

The auctions will be conducted by the Hyderabad Metropolitan Development Authority (HMDA) and Telangana State Industrial Infrastructure Corporation (TSIIC) in Rangareddy, Medchal and Sangareddy districts.

Hoping to mop up around 3,000 crore by way of sale of land and flats in the next two months, the state government is gearing up for another round of auctions.

The auctions will be conducted by the Hyderabad Metropolitan Development Authority (HMDA) and Telangana State Industrial Infrastructure Corporation (TSIIC) in Rangareddy, Medchal and Sangareddy districts.

The state government had earned 3,200 crore through land auctions in 2021 and 2,000 crore from Kokapet and Khajaguda land auctions.

While the open lands have been identified in the western parts of the city such as Manchirevula, Puppalguda, Ameenpur and leftover plots in Uppal Bhagat layout near Nagole, the government immediately wants to sell Rajiv Swagruha flats at Pocharam and Bandlaguda to the public.

In March, the government tried to auction flats in Rajiv Swagruha housing complexes at Bandlaguda and other places for builders and developers. But, none of them have shown interest.

Later, it was proposed to sell the flats to only government employees and a team of officials visited the flats. But chief minister K Chandrasekhar Rao reportedly advised the officials to put the flats for general public too. R&B minister V Prashanth Reddy held a meeting with officials recently to finalise the rates.

“The completed flats will be sold at 3,000 per square feet (sft) and at 2,750 per sft for incomplete flats in Bandlaguda. In Pocharam, it will be 2,500 per sft for ready-to-occupy flats and 2,250 per sft for incomplete flats,” a senior R&B official said.

TSIIC had initiated to sell 23 plots (about 40 acres) in Ameenpur in Sangareddy last month but the auction process ran into some legal glitches. Only eight plots could be sold. Now, the government has decided to auction the leftover plots.

The TSIIC may be entrusted with auctioning government land at Manchirevula and Puppalguda.

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