Govt earns Rs 64.70 crore through auctioning of Rajiv Swagruha open plots

KARIMNAGAR: The state government has earned revenue of Rs 64.70 crore by way of auctioning open plots at Angarika Rajiv Swagruha housing scheme at Nusthullapur village of Thimmapur mandal on the completion of auctions on Friday (June 24).

The government has decided to auction as many as 237 open plots out of a total of 819 plots in the Angarika township. The first day of open auction on Monday (June 20) yielded the highest price of Rs 22,600 per square yard for a commercial plot and Rs 18,600 per square yard for the residential plots. It may be recalled that the government had fixed the price for commercial plots at Rs 8,000 per square yard and Rs 6,000 per square yard for residential plots.

On the completion of the first phase of auctioning on Friday, all the 11 commercial and 225 residential plots were auctioned at record prices against a total of 237 open residential plots. The commercial plot’s highest price was Rs 22,600 per square yard and the residential plot was Rs 18,600 per yard. The bidders’ lowest price for a commercial plot was Rs 12,500 per square yard and Rs 7,800 per square yard for the residential plots.

After the completion of auctioning, still, 11 residential plots were left over as the bidders did not come forward for auction. On the other hand, the majority of the bidders, who quoted the highest price, were reluctant to go further in for the payments of bid amount and take up registration of the plots as the area was not developed and did not quote that much price in the open market. The majority of bidders are ready to forgo the EMD of Rs 10,000 instead of risking by purchasing the plot at such the highest bid amount, in a faraway location without any basic amenities.



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