Hyderabad: scouting for the best bets for the next land auction round, the Telangana Government is now observing the Telangana (THB) housing council in the city.
The state government is rumored to have identified around 540 hectares belonging to the housing council in Kukatpally, Pocharam, Raviryal and Left-Over plots in various locations in the city such as Vengal Rao Nagar.
The state government was studied to ask the Housing Board to submit a specific land package owned by it to the Hyderabad Metropolitan Development Authority (HMDA) to hold auction.
The source in the government said this target was to get Rs 2,000 to Rs 3,000 Crore immediately through land sales.
It has produced around Rs 3,000 Crore through land auctions in books 2021-2022 until now sold plots in Kokapet, Khanamet, Bhagat UPPAL and Poppalguda through HMDA and Tsic.
“Discussion was held on auctioned land of the Kukaptally Housing Board and will be carried out through HMDA because it has experience in the e-auction and also the layout development.
The government will make the last call on it (auction) when the board has no power,” said a senior official THB Tii.
Thb will hand over his 32 hectares in Kukatpally to HMDA for the development of a larger plot – each about one hectare to one half hectare, especially for the development of commercial and mixed purposes.
The auction will only take place after the development of the layout.
“Because the soil is close to Hi-Tec City and has connectivity to the Metro and other transportation, it is likely to take a minimum of 1,50 lakh per square meter,” the official source said.
The government has instructed Rajiv Swagruha Corporation to sell the left area in Pocharam and also planned to sell several left plots in villages that also developed during the hub in the eastern part of the city.