Rajiv Swagruha Flats To Be Sold To Govt Employees

Hyderabad: Telangana government on Wednesday decided to sell flats built under Rajiv Swagruha scheme to the state government employees through online auction.

"The auction will begin in the last week of August as the website for the auction is being prepared in collaboration with Rajiv Swagruha Corporation. After the launch of the website, the employees can book the flats through auction," the housing minister A. Indrakaran Reddy said.

In the first phase 3,719 flats constructed at Bandlaguda and Pocharam will be offered under auction. The price for the flats at Pocharam is fixed at Rs1700 per square feet and Rs1500 per square feet for semi-finished flats.

Earlier government had spent huge amount on such projects which resulted in Rs1,069 crore burden to the Telangana government. To clear the burden the government has repaid Rs820 crore of loans which was taken for the construction and remaining Rs256 crore has yet to be cleared, the minister said.

By auctioning these flats, the government will get relief from the loan repayment, the minister added.