Notification for auction of Telangana govt’s plots, unsold flats in Feb likely
Hyderabad: The Congress government is expected to issue a notification as the Telangana Housing Board and Rajiv Swagruha Corporation prepare to auction the unsold flats and residential plots across the state.
The state government is aiming to raise Rs. 3,500 crore with the auction process. Over 1,400 open plots measuring 100 to 500 square yards are spread across 41 locations including Chandanagar, Gajularamaram, Kundanapally, Kurmalguda and Bahadurpally in the Greater Hyderabad Municipal Corporation (GHMC) limits and Hyderabad Metropolitan Development Authority (HMDA) and various other districts such as Karimnagar, Khammam, Gadwal and others.
The housing board will also put up 361 unfinished houses for sale during the auction. During the earlier auctions, the board had sold 3,444 plots and 195 houses.
Additionally, the government plans to sell nearly 700 unsold flats at the Rajiv Swagruha gated townships in Pocharam, Bandlaguda near Nagole, Jawaharnagar and Gajularamaram, among others. Since the launch of a housing scheme in 2007 in united Andhra Pradesh rendered many of these properties without a buyer. These properties have remained unsold despite holding six auctions in the past.
Over the next few weeks, the housing board will hold an auction for 54 flats in KPHB, seven in Gachibowli, Balajinagar, and Bharatnagar and 42 flats in Raviryal village.
The move to auction these properties is being seen as the state government’s attempt to address its fiscal challenges. The government’s poor revenue deficit situation seems to have exacerbated its fiscal condition during the current fiscal year. The state’s revenue collections stood at Rs. 1.03 lakh crore by November 2024-25 while the revenue receipts stood at Rs 1.11 lakh crore during the same period last year. It is reported that the funds generated from these auctions will be used to cover the fiscal deficit.
