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The Telangana government is preparing to sell its long-vacant Rajiv Swagruha Corporation flats in Bandlaguda, Pocharam, and Gajularamaram, aiming to raise over INR 1,000 crore. These flats, built 15 years ago for affordable housing, range from 520 sq ft to over 1,600 sq ft, with prices between INR 2,500 and INR 4,000 per sq ft. Despite previous phases seeing unsold units, recent successful plot sales offer optimism. The sales will be conducted via e-auction, with key draw dates in July and August.
The Telangana government has recently announced its plan to sell previously vacant housing units. These properties, located in Hyderabad, are long-held flats built for an affordable housing scheme. The upcoming sale process aims to generate revenue and dispose of these units. Advertisement
The government expects to raise over INR 1,000 crore from the sale of these Rajiv Swagruha Corporation flats. The properties are situated in Bandlaguda, Pocharam, and Gajularamaram. These flats were constructed 15 years ago under the Rajiv Swagruha scheme, which aimed to provide affordable housing. The units vary in size, ranging from 520 square feet to over 1,600 square feet, with prices set between INR 2,500 and INR 4,000 per square foot. All current sales will be conducted through a transparent e-auction process. Allotment will be decided by a draw, with specific dates for multiple bids on July 30, August 1, 2, and 20. The final e-auction is scheduled for July 30.
Despite the initial objective of offering affordable housing, hundreds of flats and thousands of plots from previous phases of the scheme remained unsold. However, the Housing Board has recently seen success in selling open plots, notably in Kukatpally Housing Board Colony and Gachibowli, Chintal, and Nizampet, raising INR 142.78 crore and INR 65.02 crore respectively. Such sales are undertaken by the government to monetize long-held assets and recoup investments in public housing projects, particularly when properties remain vacant.
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