Hyderabad: As per the report, TS Government may sell or lease Paigah Palace after the shifting of the US Consulate to its own building at Gachibowli.
It is also reported that the heritage building may be leased to a hotel.
Paigah Palace houses US Consulate
Currently, the heritage building houses the Consulate. The worth of the building is Rs. 300 crore as it is located on a four-acre prime land at Begumpet.
The State Govt. had already instructed the Municipal Administration Department to handover the heritage building to the General Administration Department (GAD).
Team formed to inspect the heritage building
In order to conduct inspection of the building, Municipal Administration Department has constituted a team.
The speculation claimed that the State may consider selling or leasing the building to mobilize the resources.
Paiga Plaza which was listed as a heritage building as per old earlier government’s record was headquarter of Hyderabad Urban Development Authority (HUDA) from 1975 to 2008.
In 2008, the building was handed over to US Consulate.