Govt set to auction Rajiv Swagruha properties

Hyderabad: In a move aimed at raising significant funds for housing development, the Telangana govt is preparing to auction a range of properties from the Rajiv Swagruha Corporation by the end of Feb. The auction will feature both completed and incomplete flats, plots, and independent houses, with the state targeting a revenue of at least Rs 2,000 crore.While the total value of the properties is estimated at over Rs 3,200 crore, only those free of legal disputes will be sold. The proceeds from this auction are expected to bolster the govt's Indiramma housing scheme, continuing the state's efforts to address housing needs.These properties, located in areas under the Greater Hyderabad Municipal Corporation, Hyderabad Metropolitan Development Authority, and various districts, are predominantly 15 years old. Many of the constructions were halted midway due to various challenges.The portfolio of auctioned properties includes flats, multi-storey towers, and plots from urban and suburban areas such as Bandlaguda, Nagole, Pocharam, Gajularamaram, Jawaharnagar, Khammam, Vikarabad, Kamareddy, and other locations. These were initially intended to provide affordable housing to the middle class in urban areas and outskirts under the Rajiv Swagruha scheme, launched by the YS Rajasekhara Reddy-led Congress govt in the undivided state.Despite eight rounds of auctions since the scheme's inception in 2007, hundreds of flats and thousands of plots have remained unsold. The Congress govt, under the leadership of Revanth Reddy, set up three committees—each responsible for reviewing properties in GHMC, HMDA, and district areas — to assess and propose price adjustments. The committees have now submitted their pricing recommendations to the govt.According to a senior official at Rajiv Swagruha Corporation, there are 760 flats available for sale, including 159 in Bandlaguda and 601 in Pocharam. These flats include a range of options, from 1-BHK units to deluxe 3-BHK flats. To date, 2,956 flats have been sold in previous auctions.Additionally, 36 unfinished multi-storey towers in Pocharam, Gajularamaram, and Jawaharnagar (Medchal Malkajgiri district), as well as Polepally in Khammam district, will be up for auction. Four towers have already been sold in earlier phases.The corporation also owns 1,342 open plots spread across approximately 350 acres. These plots are located in various layouts, including Chandanagar, Kundanapally, Kawadaipally, Kurmalguda, Bahadurpally, Gajularamaram, Gadwal, Allapur, and Thorrur. Plot sizes range from 100 to 500 square yards. Additionally, 361 unfinished independent houses in various locations will also be offered for sale.Hyderabad: In a move aimed at raising significant funds for housing development, the Telangana govt is preparing to auction a range of properties from the Rajiv Swagruha Corporation by the end of Feb. The auction will feature both completed and incomplete flats, plots, and independent houses, with the state targeting a revenue of at least Rs 2,000 crore.While the total value of the properties is estimated at over Rs 3,200 crore, only those free of legal disputes will be sold. The proceeds from this auction are expected to bolster the govt's Indiramma housing scheme, continuing the state's efforts to address housing needs.These properties, located in areas under the Greater Hyderabad Municipal Corporation, Hyderabad Metropolitan Development Authority, and various districts, are predominantly 15 years old. Many of the constructions were halted midway due to various challenges.The portfolio of auctioned properties includes flats, multi-storey towers, and plots from urban and suburban areas such as Bandlaguda, Nagole, Pocharam, Gajularamaram, Jawaharnagar, Khammam, Vikarabad, Kamareddy, and other locations. These were initially intended to provide affordable housing to the middle class in urban areas and outskirts under the Rajiv Swagruha scheme, launched by the YS Rajasekhara Reddy-led Congress govt in the undivided state.Despite eight rounds of auctions since the scheme's inception in 2007, hundreds of flats and thousands of plots have remained unsold. The Congress govt, under the leadership of Revanth Reddy, set up three committees—each responsible for reviewing properties in GHMC, HMDA, and district areas — to assess and propose price adjustments. The committees have now submitted their pricing recommendations to the govt.According to a senior official at Rajiv Swagruha Corporation, there are 760 flats available for sale, including 159 in Bandlaguda and 601 in Pocharam. These flats include a range of options, from 1-BHK units to deluxe 3-BHK flats. To date, 2,956 flats have been sold in previous auctions.Additionally, 36 unfinished multi-storey towers in Pocharam, Gajularamaram, and Jawaharnagar (Medchal Malkajgiri district), as well as Polepally in Khammam district, will be up for auction. Four towers have already been sold in earlier phases.The corporation also owns 1,342 open plots spread across approximately 350 acres. These plots are located in various layouts, including Chandanagar, Kundanapally, Kawadaipally, Kurmalguda, Bahadurpally, Gajularamaram, Gadwal, Allapur, and Thorrur. Plot sizes range from 100 to 500 square yards. Additionally, 361 unfinished independent houses in various locations will also be offered for sale.