Hyderabad: The Rajiv Swagruha Corporation will hold a public auction of open plots at Thorrur, Rangareddy district, near Hyderabad, on Sunday, August 10. The auction will be held at Avica Grand, Pedda Amberpet, Managing Director, VP Gautam said.
The auction was originally planned to take place on August 6, but was delayed due to unavoidable circumstances. The Telangana government had issued a notice last month stating that it would sell 100 plots near Hyderabad in a public auction. There are approximately 240 buyers who have shown interest in attending the process.
Thorrur, near the Outer Ring Road (ORR) and well-connected to Hyderabad, has emerged as a popular place for residential investment. The open plots available for sale are under the Rajiv Swagruha project, undertaken to offer a well-designed housing layout with basic infrastructure near Hyderabad.
The auction drive by the government is intended to sell unsold properties under the Rajiv Swagruha and Housing Board schemes to raise funds for existing and future housing projects. The officials have assured that the plots are dispute-free legally, hence making them a desirable proposition for individual buyers, investors, and developers.
Process for auction
Interested bidders are mandated to abide by official auction procedures, including registration, payment of the Earnest Money Deposit (EMD), and bidding following government-notified terms. The auction will be run transparently, giving an equal opportunity to all registered bidders.
As demand for housing space around Hyderabad grows, particularly along the major growth corridors such as the ORR, competitive bidding is anticipated for the Thorrur open plots.
The strategic positioning, coupled with the credibility of government-supported auctions, is set to make the sale an attractive opportunity for potential property investors around the city.
Auction of flats, open plots in Hyderabad
The recent auction of 50 Rajiv Swagruha properties has resulted in revenue generation of more than Rs 100 crore for the state government.
The auctions of both flats and open plots in the city are getting a massive response.
In the auction held on August 5, a bidder quoted Rs 46,600 per square yard. 68 plots were auctioned at Bahadurpally, Medchal-Malkajgiri district.
As per the report, 119 bidders took part in the auction for open plots located near the ORR.
For the corner plots, Rs 30,000 per square yard, and for other plots, Rs 27,000 per square yard were set by the authorities.
