Telangana to sell 2000 acre to fund poor

Hyderabad: The Telangana government would sell certain land parcels in the city to raise funds to pay for the welfare schemes for the poor.

The Hyderabad Metropolitan Development Authority has identified over 2,000 acres which would be put up for auction soon.

These lands are in Banjara Hills, Jubilee Hills, Madhapur, Miyapur, Nallagandla and Jawaharnagar.

Of the total 2,500 acres in these areas, 100 acres have been given to the Birla Institute of Technology and Science (BITS Pilani) campus, 200 acres for the proposed Medtech Valley and 200 acres for private institutions.

“This land with HMDA is after setting aside space for amenities and other purposes, apart from those kept for future development,” said an official.

Given the present real estate trends, the minimum pricing at auctions could be around Rs 10,000 and above per square yard in certain areas. HMDA plans to earn at least Rs 1,000 crore through the auction. The last auction also saw the 4.695-acre site at Nandagiri Hills fetch the HMDA Rs 84.74 crore.