Telangana government now eyeing housing board land for auctions
Telangana government now eyeing housing board land for auctions
In the hunt for the best stake for the next auctions round, the Telangana government is now scanning the Telangana Housing Board lands, singling out about 540 acres in several locations of the city. Telangana government is heard to have inquired the THB to hand over certain lands they own to the HMDA for holding auctions.
Authorities in the government confirmed the goal to attain Rs 2,000-3,000 crores instantly by land sales. It has already earned about Rs 3,000 crores through land auctions until now through HMDA and TSIIC.
A senior THB official exclaimed that auctioning lands will happen through HMDA as it is experienced in e-auctions and layout development. The government will take an ultimate call on it as the board is powerless.
The TBH will pass 32 acres of their own in Kukatpally to the HMDA for developing bigger plots. The auction will proceed post layout development only.
An official source confided that land is likely to earn at least Rs 1.50 lakhs per sq yard as it's close to Hi-Tec City and is connected to metro and other transports.
The Government has evaluated the Rajiv Swagruha Corporation already to sell some left-over plots.
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