The Rajasthan Housing Board (RHB) successfully auctioned residential and commercial properties valued at INR 142.54 crore earlier this week. The board expects to generate substantial revenue from various cities, with Jaipur contributing INR 90.70 crore. In previous phases, RHB set records for house sales, including 1,213 homes sold in just 12 days. Following a hiatus after the BJP government took power, the board has resumed auctions, promising ongoing opportunities for the public to benefit from future schemes.
The Rajasthan Housing Board (RHB) has successfully disposed of residential and commercial properties valued at INR142.54 crore during an e-auction held earlier this week. This achievement marks a significant milestone for the board, reflecting the strong demand for real estate in the region. An official from RHB indicated that the board anticipates generating substantial revenue from various cities, with Jaipur expected to contribute around INR 90.70 crore, Jodhpur around INR 23.63 crore, and Alwar and Bhiwadi collectively contributing approximately INR 27.31 crore. Additionally, Bikaner and Churu are projected to generate INR15 lakh and INR64 lakh, respectively.
In the first phase of the auction, RHB sold a total of 1,010 houses in just 35 days, raising an impressive INR162 crore, which earned a place in the Book of World Records for its rapid sales. Following this success, the board set a new record in the subsequent phase by selling 1,213 houses in a mere 12 days through e-auctions, showcasing its effective strategies and the high demand in the housing market. After the BJP government took power, the e-auction process was paused for nearly a year, but the board has now resumed auctions for unsold properties, signalling a revitalisation of the housing sector.
Housing Commissioner Dr Rashmi Sharma highlighted that the board ensured extensive publicity for this auction after a prolonged hiatus, which resulted in a high level of participation from the public. She emphasised that similar initiatives will continue in the future, aiming to provide greater access for the general public to benefit from such schemes. The next series of e-auctions is set to take place from October 7 to 9, as well as on October 14 to 16 and October 21 to 23, further enhancing opportunities for potential buyers.
This renewed focus on property auctions not only aims to meet the housing demands of the populace but also reflects a strategic move by the RHB to bolster its revenue and support economic growth in the region. With the successful execution of these auctions, the RHB is well-positioned to navigate the challenges of the real estate market and continue providing valuable housing solutions to the community.
In conclusion, the RHB's recent e-auction highlights a robust demand for housing and commercial properties in Rajasthan. The positive outcomes and planned future auctions suggest a strong commitment to revitalising the property market and providing accessible housing solutions for the public.
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