Govt to auction 1,400 open plots in 9 districts
Govt To Auction 1,400 open Plots in 9 Districts
The Telangana government has agreed to take up the sale of land in districts after auctioning government land in Ranga Reddy.
To commence, the government will auction 1,400 open plots in 9 districts which will be carried in physical mode from March 14 to 17.
The government had initially earned nearly Rs 4,000 crore in different auctions and got about Rs 2,000 crore solely by selling Kokapet lands.
It is expecting ₹2,000 crores in the upcoming auctions.
The next stage of auctions in the districts will be determined based on revenue from the current sale.
The government has entrusted the responsibility to Hyderabad Metropolitan Development Authority and TS Industrial Infrastructure Corporation jointly.
The government has fixed ₹5,000-50,000 per square yard for enrolling in the auction.
The government, which generally targets middle class or commercial sales, has initiated small plots ranging from 60-100-150-200 sq yards and above in the districts.
The government presented the sale of the land in Abdullapurmetthe on Vijayawada highway also.
A senior official of the revenue department shared “This will help the government know the real estate market on the Vijayawada highway, which has been dull for the past few years."
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