Telangana government to auction Rs 30 Bn worth of unsold Rajiv Swagruha flats
Hundreds of flats and thousands of plots have remained unsold during the last six phases of auction since the scheme was launched in 2007 in the combined state. These flats and plots are located in areas under the Greater Hyderabad Municipal Corporation (GHMC), Hyderabad Metropolitan Development Authority (HMDA) and various other districts. The new Congress govt had formed three committees to fix the prices for auction and it has submitted a report to the govt.
Sources in the chief minister's office (CMO) said that there are at least two categories of prices" one for the middle-class and the other for builders/developers, who can buy incomplete towers, finish construction and sell them. Chief minister A Revanth Reddy is expected to take a decision soon on the auction prices.
A senior official in Rajiv Swagruha Corporation told TOI that 2,956 flats had been sold in previous auctions and there are another 760 flats up for sale in Rajiv Swagruha gated community townships at Pocharam and Bandlaguda near Nagole. "There are three-BHK, two-BHK and one-BHK flats available for sale with as many as 159 of them in Bandlaguda and another 601 in Pocharam, both townships in Medchal-Malkajgiri district," he said.
Likewise, there are several unfinished towers ranging from 8 floors to 14 floors, with some of them left incomplete at the fourth and fifth floors in Jawaharnagar, Gajularamaram, Pocharam in Medchal-Malkajgiri, and Polepalli of Khammam district. Of the total 40 towers, four towers were sold during previous auctions and there are 36 towers up for sale, officials said. Then there are open plots and incomplete flats at 19 locations in GHMC, HMDA and other districts.