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- prepares ground to auction
The Government of Telangana, which is hitherto earning sizable revenue by way of auction of the government lands in Hyderabad, set its sights on Housing Board lands to auction them. It identified vacant Housing Board lands in Kukatpally, Pocharam, Raviryala and Vengal Rao and measured the area of such lands to be around 540 acres.
The state government has directed the Housing Board to hand over the said lands to the Hyderabad Metropolitan Development Authority (HMDA) to enable it to auction the lands. The official sources say that the government targets to earn up to Rs 2000 to Rs 3000 crore. So far, the government earned up to Rs 3000 crore by way of auction of government lands in Kokapet, Khanamet, Uppal Bhagayat and Puppalaguda.
Discussions are under way on how to auction the lands of the Telangana State Housing Board in Kukatpally. Since the HMDA is more experienced in the matter, the housing board is directed to hand over the lands to the HMDA. An officer of the housing board went on record stating that the board will take the final call on the issue since the housing board has no capacity to auction lands.
Therefore, there is a likelihood of handing over 32 acres in Kukatpally to the HMDA. Layout of the housing board sites would be developed with each site measuring up to one acre and one and half acres for development of commercial projects and multi-storeyed structures. The auction will take place once the lay-out is formed. Since the lands are located close to the city and well connected by Metro and other modes of transport, the price per square yard is likely to be around Rs 1.50 lakh.
