Telangana: HMDA Depends On Town Planning Department To Generate Revenues

 - Sakshi Post

Hyderabad Metropolitan Development Authority (HMDA) is now depending on the town planning department to generate revenues for it. Many auctions of lands are in the line, HMDA is expecting Rs 2,000 crore in the next financial year, crossing the income of Greater Hyderabad Municipal Corporation (GHMC).

To generate extra revenue, the HMDA has decided to take over Rajiv Swagruha Corporation Limited from the TS Housing Board and sell flats. As a pilot project, it will auction 28 of 47 blocks in the Rajiv Swagruha complex at Bandlaguda to raise around Rs 1,000 crore.

324 developed plots, comprising 223 plots, at Thorrur Layout in Hayathnagar, and 101 plots at Bahadurpally layout in Medchal will be e-auctioned between March 14 and 17.

The municipal authority will take up the e-auctioning of plots through MSTC Limited and is expecting to raise money between Rs 400 crore and Rs 500 crore from the e-auction.

The highest bidder was supposed to pay a 25% deposit of the total sale price of the plot within seven days. The bidder must pay the remaining sum in full within 90 days, without interest. The highest bidder can go for an installment plan with 10% annual simple interest for up to 180 days, excluding the due date period.

Also Read: ​Telangana High Court Notification For Junior Assistant Posts: Check Eligibility and Last Date to Apply

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