Nizamabad: Telangana State Housing Board (TSHB) has earned around Rs 5 crore by auction of open plots in Nizamabad recently. Surprisingly, Rs 26,100 per square yard was offered as the highest bidding price. The lowest price is Rs 4,100 per square yard in new Housing Board Colony at Kanteshwar in Nizamabad.
There are 30 open plots in the colony and TS Housing Board set offset price of Rs 16,000 to Rs 4,000 per square yard based on the extent of the plot.
In open auction, 25 bidders successfully owned the plots and paid the amount to the Housing Board. Reportedly, four bidders failed to remit the balance within the stipulated period and approached the court.
TS Housing Board officials are planning to re-auction leftover plots in the colony. TS Housing Board vice-chairman and Housing Commissioner Chitra Ramchandran directed the officials concerned to further conduct re-auction, official sources said.