Rajiv Swagruha open plots draw strong demand near Hyderabad
HYDERABAD: Open plots developed by the Rajiv Swagruha Corporation received strong response from buyers, with land prices in Torrur touching ₹45,000 per sq yard during a public auction held on Saturday.
High participation in Torrur auction
The corporation auctioned 105 open plots located close to the Outer Ring Road and the Rajiv Gandhi International Airport. The two-day auction is being conducted at a private function hall in Batasingaram. On the first day, 70 plots were sold.
Officials said buyers offered premium prices for Torrur plots, with the highest bid reaching ₹45,000 per sq yard. Several plots were also sold at ₹43,000 and ₹41,000 per sq yard.
Average price at ₹31,000 per sq yard
The upset price was fixed at ₹25,000 per sq yard for plots ranging from 200 to 300 sq yards. On average, the plots were sold at ₹31,000 per sq yard. Nearly 150 bidders participated, many arriving with family members.
Demand was evident as bidders raised prices more than 20 times to secure corner plots, officials said.
₹56 crore revenue on first day
Managing director V P Gautam said the corporation earned around ₹56 crore from Saturday’s auction alone. The auction was conducted under the supervision of chief engineer G V Ramana Reddy, executive engineer Narender Reddy, and local revenue officials.
The corporation had issued a notification last month to auction open plots in Torrur, Bahadurpally and Kurmalguda, all located close to the Outer Ring Road.
Auctions for the remaining 35 plots in Torrur and 32 plots in Bahadurpally and Kurmalguda will be held on Sunday.
71 flats allotted in Bandlaguda, Pocharam
The Rajiv Swagruha Corporation also allotted 71 flats through a lottery system in gated communities at Bandlaguda–Nagole and Pocharam.
Of these, 15 flats are located in Bandlaguda and 56 in Pocharam. Eligible applicants were selected through a draw of lots. Officials said the allotments generated around ₹11 crore in revenue for the corporation.
