The state government of Telangana has asked the housing board to hand over the land to HMDA for the auctioning which has leftover pockets of land.
The Telangana government is now eying Telangana Housing Board land to auction and make some money, same like it has done in the recent past the lands of kokapet, khanamet, puppalaguda, Uppal Bhagat, Neopolis and made some chunk of revenue in the form of the auction to the exchequer.
The state government has identified about 540 acres of land belonging to the Housing Board in Kukatpally, Pocharam, Raviryal which are leftover in and around the IT hub which may en masse the revenue to the government. From some sources, it is found that the government is expecting revenue to the tune of Rs 2000 cr to Rs 3000 cr Rs by the way of selling the land. Earlier it has earned Rs 3000 cr in the financial year 2021-2022.
The auctioning of the land is done as e-auction by HMDA which has prior experience to auction, the Housing Board has no authority to do so and the Government will take a final call on it. The housing board is giving 32 acres of land in kukatpally to the T-govt for auction after layout development. Kukatpally is very close to the HI-TECH city and connects metro and has a lot of demand to it. As per estimation, the T-Govt may fetch a minimum of Rs 1.50 lakh per sqyard and above.