Hyderabad:
In what comes as good news for those looking to get a new flat in Hyderabad, the state government has put the Rajiv Swagruha Corporation flats in Bandlaguda, Pocharam and Gajularamaram townships up for sale. The government seeks to raise over Rs 1,000 crore by selling these flats. Although the scheme was launched in 2007 in the undivided state, hundreds of flats and thousands of plots remained unsold across the last six auction phases.
Affordable Housing Under Rajiv Swagruha Scheme
The construction of these flats was done under the Rajiv Swagruha scheme aimed at providing affordable housing to the middle classes in urban areas as well as on the outskirts of cities.
There are 601 flats in Sadbhavana township in Pocharam, 159 flats in Sahabhavana township in Bandlaguda, as well as 418 flats in unfinished 9- to 14-storey towers. All these flats located in the Medchal-Malkajgiri district have been put up for sale.
Prospective buyers interested in purchasing new flats are required to submit their applications, with the allotment process scheduled for July 30, August 1, 2, and 20, conducted by a draw. To get details, people and builders can visit the official website.
Size Of Flats
Constructed almost 15 years ago, many of the flats remained unsold and are now being offered for sale. The size of flats ranges from 520 sq ft to over 1,600 sq ft, with prices starting at Rs 2,500 and going up to Rs 4,000 per sq ft.
Importantly, with the sale of 18 open plots in Phase 7 of Kukatpally Housing Board Colony, the Housing Board has already raised Rs 142.78 crore. Notably, one of the plots fetched a record 2.98 lakh per sq yd. Further, it also generated Rs 65.02 crore through the auction of open plots and flats in several areas, including Gachibowli, Chintal, and Nizampet.
Fresh Auction Of Commercial Plots
In a fresh notification, the Housing Board has announced a fresh auction of its commercial plots, including KPHB commercial plots and Nampally commercial plots.
The final auction, which has been scheduled for July 30, will be a transparent e-auction process, Telangana Housing Board Vice-Chairman V OP Gautham said. The transparency will ensure that all bidders get a level playing field.