Hyderabad: The Telangana government, after auctioning Rajiv Swagruha flats, earned crores by selling open plots in Hyderabad.
The recent auction of 50 Rajiv Swagruha properties has resulted in revenue generation of more than Rs 100 crore for the state government.
Auction of flats, open plots in Hyderabad
The auctions of both flats and open plots in the city are getting a massive response.
According to a report published in DC, in the auction held on Tuesday, a bidder quoted Rs 46,600 per square yard. On Tuesday, 68 plots were auctioned at Bahadurpally, Medchal-Malkajgiri district.
As per the report, 119 bidders took part in the auction for open plots located near ORR.
For the corner plots, Rs 30,000 per square yard, and for other plots, Rs 27,000 per square yard were set by the authorities.
401 Swagruha flats allotted
Before the auction of the open plots, the Rajiv Swagruha Corporation successfully allotted 401 affordable flats in Hyderabad.
The allotted apartments, which are located in Pocharam and Bandlaguda, were sold below market rates as part of the government’s initiative to provide budget-friendly housing options.
Under the no-profit-no-loss model, the corporation has generated approximately Rs 78 crore from the flat allotments.
