Hyderabad: After auctioning the government’s land in Ranga Reddy, the Telangana Government has now decided to receive land sales in the district.
To start, the government will auction 1,400 open plots in 9 districts.
Land auctions will be held in physical mode from March 14 to 17, according to the notification issued on Friday.
The previous government received almost Rs 4,000 Crore in different auctions and received around Rs 2,000 Crore through land sales in Kokartet.
Now, hoping to get almost Rs 2,000 Crore through fresh auctions.
The next auction phase in the district will be decided based on revenue from current sales.
The government has entrusted responsibility for the Hyderabad Metropolitan Development Authority (HMDA) and TS Industrial Infrastructure Corporation (TSIIC).
According to notice, open the plot will be sold at Mahbubnagar, Nalgonda, Vicarabad, Adilabad, Komarambheem Asifabad, Karameddy, Jogulamba Gadwal, Peddapally, and Ranga Reddy.
When it comes to the price upset for each square meter plot, the government has fixed RS 5,000 to Rs 40,000 to participate in auctions.
To plot the Ranga Reddy district in Servetampally, the annoyed price is Rs 40,000 per square meter while Rs 5,000 per square meter in Peddapally and Asifabad districts.
The government, which generally targets middle class or commercial sales, has emerged with a small plot ranging from 60, 100, 150, 200 square meters and above the district.
Official sources say in places like Kagaznagar or Anthargaon in Peddapally District, people prefer small plots for housing purposes.
This time, regardless of the auction of the plot in the west like Serorailampally Mandal, the government has also sold land in Abdullapurmet on Jalan Raya Vijayawada.
“This will help the government get to know the real estate market on Jalan Raya Vijayawada, which has been boring over the past few years,” said a senior revenue department official.