Sale of state-owned lands: Telangana government to wait till prices rise
30 Sept 2015 8:37 AM IST
State well short of Rs 13.5 thousand crore revenue target
Representational image
Hyderabad: The TS government has put on hold the process to auction off prime state-owned lands as it feels the time is not ripe for sale. In this year’s Budget, the government had targeted Rs 13,500 crore through sale of lands and regularisation of illegal layouts and buildings. However, it could realise a mere Rs 300 crore in the first six months, ending September 30, leaving it facing an uphill task to meet the deficit in the remaining six months.
With the realty sector not picking up as expected, the government has put plans of sale of lands on hold and is pinning its hopes on earning at least Rs 5,000 crore through BRS/LRS, expected to be launched before Dasara.
The government hopes to earn nearly Rs 2,500 crore from GHMC limits alone through LRS/ BRS and the other Rs 2,500 crore from other municipal corporations and municipalities across the state. Following official directions, collectors of all districts have identified lands eligible for auction. The government has high expectations on Hyderabad and Ranga Reddy districts, which have the potential to fetch huge revenues due to higher realty prices.
The government has readied 15 acres of prime land in Banjara Hills for sale which was taken back from AP State Film Development Corporation, for failing to utilise it even after allotment in 1991. It hoped to earn Rs 600 crore at Rs 40 crore per acre through sale of this land alone. Another five acres in 24 different parcels have been idenfified in core areas of the city, which could fetch good revenues. Official sources said the government is waiting for the realty sector to pick up before issuing a notification to auction the lands, something that could take about three months.
( Source : deccan chronicle )
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