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Telangana Govt. to Raise ₹2,300 Crores from Land Auction

Posted by luckypropertywala_sxyoj4 on June 29, 2022

The Telangana state government is currently struggling with fund mobilisation and it has decided
to generate ₹2,300 crores by auctioning flats & open plots within HMDA (Hyderabad
Metropolitan Development Authority) limits over the next 2 months. Of the targeted ₹2,300
crores, ₹900 crore is expected from sale of Rajiv Swagruha flats at 2 locations – one at
Bandlaguda near Nagole & other at Pocharam near Ghatkesar. The auction/allotment of Rajiv
Swagruha flats is currently underway.
HMDA also has plans to auction 233 prime plots at Torrur, Bahadurpally & Turkayamjal in the
next 1 week, HMDA and the state govt. expect to generate ₹600 crores from the sale of these
plots. Sale & allotment of Rajiv Swagruha flats at Gajularamaram & Jawaharnagar will be done
in the next phase of the plan to mobilise funds, HMDA & state govt. of Telangana expect to
collect another ₹800 crores from the sale of these flats. 34 open plots are also being auctioned at
Turkayamjal, the plots are of 600 to 1,000 sq. yds. in area and the auction is open to all
individuals, builders & developers.
HMDA officials have said builders will be permitted to construct apartments with more than 5
floors at these plots in Turkayamjal which have an upset price of ₹40,000 per sq. yd. – fixed by
HMDA. In addition to these 34 plots at Turkayamjal, 148 plots in Torrur on Nagarjunasagar
highway in Turkayamjal municipality and 51 plots in Bahadurpally in Dundigal municipality
will be auctioned between 30 th June & 4 th July 2022.
HMDA Metropolitan Commissioner & Special Chief Secretary (Municipal Administration),
Arvind Kumar said there was an overwhelming response from middle-class income group when
the announcement regarding the sale of Rajiv Swagruha flats was made. The govt. is planning to
sell 3,786 Rajiv Swagruha flats at Jawaharnagar and Gajularamaram in Medchal-Malkajgiri
district but most of these flats are currently in semi-finished state. HMDA is currently focussing
on auctions at strategic areas & locations with high demand which is paying good dividends.
A senior HMDA official said that there is still a large amount of land under HMDA but it is
selecting and auctioning/selling land which is near ORR, close to Rajiv Gandhi International
Airport, IT corridors & national highways as they attract more interest and higher prices. The
Uppal Bhagat layout auction and Neopolis Kokapet auctions conducted last year were also
highly successful due to these reasons.

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