Hyderabad: The Rajiv Swagruha Corporation has successfully allotted 401 affordable flats in Hyderabad and gears up for the auction for unsold units.
The allotted apartments which are located in Pocharam and Bandlaguda were sold below market rates as part of the government’s initiative to provide budget-friendly housing options.
Revenue from auction of flats in Hyderabad
Under the no-profit-no-loss model, the corporation generated approximately Rs 78 crore from the flat allotments.
The selection process began after a July 4 government notification. The beneficiaries were chosen through a lottery system.
In Pocharam, most flats received single applications, while heavily demanded units were allotted via random draw. A 3BHK flat received 69 applicants.
Second chance for unsuccessful applicants
Applicants who missed out in Bandlaguda were given another opportunity in Pocharam through a separate lottery.
Due to public demand, the deadline for 1BHK and 2BHK applications has been extended to August 8.
As per Managing Director V.P. Gautham, the remaining units will be allotted on a first-come, first-served basis.
Auction for unsold flats in Hyderabad
Starting August 4, an open auction will be held for unsold flats in the outskirts of the city. The schedule includes auction of 20 flats in Kurmalguda on August 4, 69 flats in Bahadurpally on August 5 and 100 flats in Thorrur on August 6.
All auctioned properties exceed 200 square feet.
