Hyderabad: Over 1,400 shops situated across 36 2BHK housing colonies in Hyderabad, Rangareddy, Medchal–Malkajgiri, and Sangareddy districts will be auctioned starting April 9.
The shops, ranging from 60 to 400 square feet, have been constructed within residential colonies to cater to daily needs and promote local business activity. Notifications have been issued by the respective District Collectors.
As part of the first phase, auctions for 273 shops in eight colonies of Rangareddy district will be held on April 9 and 10. In the second phase, 77 shops in 10 colonies located in Hyderabad will be auctioned on April 15 and 16.
Similarly, 892 shops located in 12 colonies in the Medchal–Malkajgiri district will be auctioned on April 15 and 17. On April 15, 18 and 21, 372 shops located in six colonies of Sangareddy district will be auctioned off.
The shops are being auctioned on an “as is, where is” basis, with minimum prices fixed lower than prevailing market rates.
Interested bidders can visit the colonies, identify suitable shops, and register for the auction by submitting the required Earnest Money Deposit (EMD) at the concerned Revenue Divisional Office before 11 am on the scheduled auction dates.
The revenue generated from the auction of these shops will be utilised exclusively for the development and maintenance of the respective colonies.
The auction proceeds will be maintained as a corpus fund, and the income generated, along with monthly maintenance contributions from residents, will be used for maintenance of common areas such as lighting, lifts, and borewells.
The money will also be used for minor repairs, essential services and overall upkeep of the colonies without dependency on the government.
The funds will be managed through joint accounts of Residents’ Welfare Associations under the Cooperative Societies Act.
