HYDERABAD: The Telangana Housing Board’s recent e-auction of an acre of open commercial land generated over Rs 65.3 crore for the state government. The auction for plot number 1 in Phase 4 of the Kukatpally Housing Board took place on Wednesday and involved 11 bidders.
The winning bid came from the Institute of Chartered Accountants of India (ICAI), one of the four online bidders.
VP Gautham, vice-chairman of the Telangana Housing Board, noted that the identities of the bidders were kept confidential until the conclusion of the online bidding process. He also reported that the state government raised Rs 26 crore from the sale of Rajiv Swagruha Corporation flats in Bandlaguda that same day.
According to Gautham, 131 out of the 159 available flats at Rajiv Swagruha Corporation in Bandlaguda were sold and assigned to middle-class beneficiaries through a lottery system.
In a previous auction on June 11, the Housing Board sold 18 vacant plots in Phase 7 of the Kukatpally Housing Board Colony in Greater Hyderabad. Plot number 22 sold for a record price of Rs 2.98 lakh per square yard, highlighting the booming real estate sector in the city. In total, 6,232 square yards were auctioned, with an average price of Rs 2.38 lakh per yard.
Gautham emphasized that the primary objective of these auctions is to facilitate affordable housing for middle-income groups on a no-loss-no-profit basis, aligning with the state government’s commitment to providing affordable urban housing.
The flats that remain unsold include 19 one-bedroom apartments and nine designed for senior citizens, which may be due to unfavorable Vastu or entrance issues. The government plans to make a final decision regarding these remaining units. Over a decade, five auctions have been conducted to sell around 2,700 flats (3-BHK, 2-BHK, and 1-BHK) as well as senior citizen accommodations in Bandlaguda, with only 28 flats left unsold. The auction and lottery for flats in Pocharam township are scheduled for August 1 and 2.
