Govt Nets Rs 179 Crore On 1st day Of Land Auctions In Hyderabad

Open plots in upmarket areas and surrounding areas of Hyderabad and districts were selling rapidly on the first day of land auctions.

In Bahadurpally and Thorrur, one square yard of land was sold under the HMDA for ₹30,000 and ₹28,000 respectively. 

The government earned ₹179 crores on the first day, and after four days, the government expects around ₹2,000 crores. The auction continued till 17th March. 

The HMDA conducted auctions for open plots for Narketpally in Nalgonda, Bhoothpur in Mahabubnagar, Kamareddy, Gadwal in Jogulamba Gadwal district, Mavala in Ahmedabad, and Yalal in Vikarabad. 

Officials stated that this reflects the real estate prosperity across Telangana. One square yard in Yalal in Vikarabad was sold for ₹11,000 and ₹8,800 in Jogulamba Gadwal district. 

Arvind Kumar, Special Chief Secretary, Municipal Administration Department said "The response for the land auctions has been very good."

The government plans on selling Rajiv Swagruha flats in the city and Khammam. In the layout, one plot was sold for ₹1,01,000 per square yard and the lowest as against the average upset price was ₹36,000 and ₹30,000.