Telangana to get Rs 600 crore from Banjara Hills property
Banjara Hills have market values running into several crores
Hyderabad: The Telangana government is all set to begin auction of government lands by putting up 15 acres of prime land in Banjara Hills for sale soon.
The land was allotted to Andhra Pradesh State Film Development Corporation in 1991 to develop the film industry in Hyderabad. Though the then Congress government allotted 35 acres to APSFDC, 16 acres remain unutilised so far.
The Telangana government cancelled land allotment in October last year and took possession of the land. It later allotted one acre out of this to construct Kerala Bhavan.
By selling the remaining 15 acres, the government expects to earn '600 crore at '40 crore per acre. The funds would be used to construct 2BHK houses for the poor in the city.
( Source : deccan chronicle )
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