Telangana government to auction Rs 30 Bn worth of unsold Rajiv Swagruha flats
Real Estate

Telangana government to auction Rs 30 Bn worth of unsold Rajiv Swagruha flats

The Congress govt plans to raise over 30 billion by auctioning completed and incomplete flats, towers and plots in various layouts in Nagole, Pocharam, Gajularamaram, Jawaharnagar, Khammam, Vikarabad and other places. These constructions were undertaken with the objective of offering affordable housing to the middle class in urban areas and their outskirts under the Rajiv Swagruha scheme.

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.

The Congress govt plans to raise over 30 billion by auctioning completed and incomplete flats, towers and plots in various layouts in Nagole, Pocharam, Gajularamaram, Jawaharnagar, Khammam, Vikarabad and other places. These constructions were undertaken with the objective of offering affordable housing to the middle class in urban areas and their outskirts under the Rajiv Swagruha scheme. 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.

Next Story
Real Estate

Project site staff find our platform beneficial and frictionless

Sashi Kiran, Founder and Director, FALCONBRICK Technologies tells CW about company plans.What inspired you to launch FalconBrick Technologies and what specific inefficiencies in the construction industry were you looking to address?The idea emerged when we wondered why the $ 600 billion Indian construction industry is plagued with project delays and cost overruns. Digging deeper, we found that projects were being managed in very outdated ways, leading to huge chaos during execution. We believed technology had a clear answer and with our collective experience in construction and technology, we ..

Next Story
Infrastructure Transport

Jupiter Tatravagonka Railwheel Wins Rs 2.55 Bn Order from Braithwaite & Co

Jupiter Tatravagonka Railwheel Factory, the specialised wheelset manufacturing division of Jupiter Wagons (JWL), has secured a Rs 2.55 billion contract from Braithwaite & Co. for the supply of 9,140 wheelsets. These wheelsets, with an 840 mm diameter, are designed for 25-tonne axle load applications and will contribute to the country's growing railway infrastructure needs. This contract strengthens Jupiter’s position as a leading domestic manufacturer of high-performance railway wheelsets. With this order, the company's total order book has reached Rs 5.60 billion, reflecting its expanding..

Next Story
Infrastructure Energy

Transrail Lighting wins Rs 27.52 Bn Orders in transmission & Distribution

Transrail Lighting has secured new orders amounting to Rs 27.52 billion, reinforcing its presence in the transmission and distribution (T&D) sector. This development further enhances the company’s industry standing, contributing to significant growth in its order book. Expansion in Transmission and Distribution Sector The latest orders are primarily from the T&D business, reflecting Transrail Lighting’s expanding footprint in the sector. The company has established a strong presence across 58 countries and is actively engaged in various segments, including Civil, Railways, and Poles an..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?