Hyderabad: The Telangana state government has put 3,718 Rajiv Swagruha flats in Bandlaguda (Nagole) and Pocharam (Ghatkesar) in the city up for sale. The e-auction will be held daily from August 7 to 17.
Housing minister A. Indrakaran Reddy visited Bandlaguda flats on Friday to launch the online sale. Flats at Chandanagar, Jawaharnagar and Gajularamaram would be auctioned later. “Flats can be purchased through online open bidding from August 7 to 17. About 2,244 flats in Bandlaguda and 1,474 flats in Pocharam are on offer. We expect to earn Rs 900 crore,” he said.
“In Bandlaguda, 316 flats are ready for occupation while there are balance works in the other 1,928. Buyers have to pay for the remaining work," Mr Reddy added. In Poch-aram, 969 flats are ready and 505 semi-finished.
“Due to the negligence of the previous Congress governments, thousands of flats are lying vacant or remained semi-finished due to which the government has suffered heavy financial losses. The Chief Minister has directed us to put these flats up for sale at affordable rates so that the middle class can avail the benefit,” Mr Reddy added.
Realty experts said the prices were on the higher side. “Prices are on par with the rates of new flats, while these are seven years old,” said Mr C. Shekar Reddy, past president, Credai.
