Hyderabad: Telangana government is conducting auctions of open plots and flats in Hyderabad and other districts to raise Rs. 2,000 crores.
The plots and flats are located in three districts of the Hyderabad Metropolitan Development Authority (HMDA) and seven other districts of Telangana. Rajiv Swagruha flats located at Bandlaguda and Pocharam will also be sold during the auctions.
Auction to continue till Nov 23
Over 450 open plots under HMDA limits and 2400 plots in other seven districts of Telangana will be available for the auction which started on November 14 and will continue till November 23.
On Tuesday, the auction of 87 open plots in Bahadurpally that began on Monday will continue and the leftover flats at Bandlaguda, Hyderabad, and Pocharam will be allotted on a lottery basis.
Between November 16 and 22, the auctions for 145 plots located in Thorrur, 14 plots in Thurkayamjal, and 110 plots in Kurmalguda will take place.
Meanwhile, the auction of a commercial plot in Mahbubnagar will be conducted on November 23.
Litigation-free open plots
As the open plots under Hyderabad Metropolitan Development Authority limits are litigation-free, people showed tremendous responses in the pre-bid meeting.
On Monday, the auctions for lands located in Adilabad, Karimnagar, Kamareddy, Mahbubnagar, Nizamabad, Nalgonda, and Vikarabad also received good responses.
Since February, the Telangana government is conducting auctions of open plots to raise revenue for the welfare and developmental activities in the state. So far, the government earned Rs. 5000 crores through auctions.
The amount that will be raised from the auctions would be utilized for the government’s welfare schemes and to improve infrastructure in the state.
Open plots yield better returns than apartments in Hyderabad
Those who want to own a house in Hyderabad are always in a dilemma about whether to buy a plot or an apartment.
Investing in plots has its own benefits. First, buying an open plot in and around Hyderabad would not only guarantee a premium and independent lifestyle but also ensures total ownership of the land.
Second, buying a plot will also ensure privacy as unlike apartments, plot owners do not share land space with others.
Third, a plot gives an option to build a dream home along with a backyard, parking space, etc.
Last but not the least, plots can have a bigger resale value since they appreciate more than apartments.
