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The Telangana Housing Board recently conducted an online auction for a one-acre commercial plot in KPHB Phase 4 that fetched over INR 65 crore. Winning the bid was the Institute of Chartered Accountants of India (ICAI), amid competition from eleven bidders. Simultaneously, 131 Rajiv Swagruha apartments in Bandlaguda were allocated by lottery to middle-income beneficiaries, raising INR 26 crore in total. These transactions reflect the government's continuing strategy to provide affordable urban housing while netting revenue from surplus assets.
A one-acre commercial plot in KPHB Phase 4 fetched over INR 65 crore in a recent e-auction held by the Telangana Housing Board. The auction witnessed strong interest, with 11 parties entering the fray. Four bidders remained competitive until the final stages, with the Institute of Chartered Accountants of India (ICAI) ultimately securing the plot. Advertisement
Simultaneously, the Board completed the allotment of 131 unsold Rajiv Swagruha flats at the Bandlaguda township. These units were offered to middle-income applicants selected through a lottery process. The lottery helped the Board generate an additional INR 26 crore in revenue.
This auction follows the success of a previous one held last month, where 18 plots in KPHB Phase 7 were sold. Notably, plot 22 had fetched a record INR 2.98 lakh per square yard, with the overall average standing at INR 2.38 lakh per square yard for a total of 6,232 square yards.
According to VP Gautham, Vice Chairman of the Housing Board and MD of Rajiv Swagruha Corporation, these initiatives align with the government's approach of delivering affordable housing to middle-income families without incurring losses.
The Rajiv Swagruha scheme originally included nearly 2,700 units at Bandlaguda. With the recent allotment, only 28 flats now remain unsold. Another lottery and auction will soon be conducted at the Pocharam township to dispose of the remaining inventory.
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