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Telangana Govt. to Auction 1,400 Plots in 9 Districts in March

Posted by luckypropertywala_sxyoj4 on February 14, 2022

 The Telangana govt. had last conducted auctions for auctioning off government land located in Rangareddy Guda during the first week of December 2021, the state govt. of Telangana has now decided to sell land located in various districts via the auction route. Firstly, the government plans to auction 1,400 open plots located in 9 districts in Telangana. After more than a year of e-auctions, the government is set to return to conduct physical auctions from 14th to 17th March 2022 as announced via the notification issued by the govt. on 11th February 2022.

During 2021, the state govt. generated nearly ₹4,000 crores in funds from different land auctions held across the state – mainly land parcels of layouts in & around Hyderabad were auctioned. During July 2021, the state govt. conducted the auction for selling land parcels which were a part of the Neopolis Kokapet layout via Hyderabad Metropolitan Development Authority (HMDA) – Hyderabad’s development body. The state govt. of Telangana & HMDA raked in ₹2,000 crores from the Kokapet auction alone.

The state govt. is estimating collection of further ₹2,000 crores through the upcoming auctions in March. The next phase of land auction in Telangana’s districts will be determined based on the revenue generated from the upcoming auction. The responsibility of conducting the auctions has been given to Telangana State Industrial Infrastructure Corporation (TSIIC) & Hyderabad Metropolitan Development Authority (HMDA). As per the notification issued by the Telangana govt., the open plots to be sold in the month of March are situated in Mahbubnagar, Vikarabad, Adilabad, Komarambeem, Asifabad, Nalgonda, Kamareddy, Peddapally, Jogulamba Gadwal & Ranga Reddy districts.

The upset price fixed by the government ranges between ₹5,000 per sq. yd to ₹40,000 per sq. yd.  depending on the location of the land. Plots in Rangareddy district, located in Serilingampally have been assigned an upset price of ₹40,000 per sq. yd. while for plots in Asifabad & Peddapally, the upset price has been set at ₹5,000 per sq. yd. The state govt. usually aims to attract middle-class or commercial buyers through the auctions but it has come up with a plan to auction smaller plots ranging from 60-200 sq. yds. in order to cater to the demand for smaller plots to construct houses.

The govt. says the general demand in areas like Peddapally district is for smaller plots for residential purposes. The auction will feature plots located in various parts of Telangana – the govt. is also auctioning plots in Abdullapurmet, which is located along Vijayawada highway. “This will help the government know real estate market on the Vijayawada highway, which has been dull for the past few years” – a senior revenue department official was quoted saying.

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