Hyderabad: The Telangana government is set to auction a wide range of properties, including flats, open plots, and unfinished multi-story houses across Hyderabad and various districts. The auction aims to generate at least Rs 2,000 crore in revenue, which will be used to fund the Indiramma Housing Scheme—an ambitious initiative designed to provide affordable housing for the underprivileged.
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Legally Dispute-Free Properties for a Transparent Auction Process
The properties being auctioned belong to the Rajiv Swagruha Corporation and are guaranteed to be legally dispute-free, ensuring a smooth and transparent bidding process. The Telangana government has already conducted a detailed evaluation of these properties through three dedicated committees: one overseeing the Greater Hyderabad Municipal Corporation (GHMC) area, another for the Hyderabad Metropolitan Development Authority (HMDA), and a third for properties in other districts. These committees have submitted their pricing recommendations to the government, paving the way for the auction.
Diverse Properties Up for Auction
The auction will feature a variety of properties located in both prime and developing areas of Hyderabad and its surrounding districts. The key categories of properties up for grabs include flats, open plots, and unfinished multi-story towers, which offer substantial investment opportunities for developers and individual buyers alike.
Flats for Sale
A total of 760 flats will be available for auction, spread across the following locations:
- 159 flats in Bandlaguda
- 601 flats in Pocharam
Open Plots Available
The auction will also include 1,342 open plots covering approximately 350 acres of land. These plots are located in prime areas such as:
- Chandanagar
- Kundanapally
- Kawadaipally
- Kurmalguda
- Bahadurpally
- Gajularamaram
- Gadwal
- Allapur
- Thorrur
Unfinished Multi-Story Towers
In addition to flats and open plots, the auction will feature 36 unfinished multi-story towers. This offers a significant opportunity for developers and investors to complete and commercialize these structures.
Government’s Efforts to Boost Real Estate and Address Housing Demand
The auction is expected to attract real estate developers, investors, and homebuyers looking for properties in strategic locations. It will also help the Telangana government monetize idle assets while meeting the growing demand for housing in the state.
The proceeds from the auction will be channeled into the Indiramma Housing Scheme, which aims to provide affordable housing solutions for low-income families in Telangana. This move is part of the state’s broader efforts to address the housing shortage and support its underprivileged citizens.
Auction Timeline and Further Details
The Telangana government aims to complete the auction by the end of this month. More information regarding the bidding process, eligibility criteria, and specific auction dates will be announced soon. As the auction progresses, it is expected to significantly impact both the real estate sector and government revenues, benefiting the state’s economy and its housing initiatives.
