The auction evoked a huge response with buyers quoting prices much higher than the upset prices quoted by the government. (Representational Image)
Hyderabad: The last month of the current fiscal (2021-22) is set to end on a good note for the state government. The auction of land parcels in various districts in the last three days fetched Rs 500 crore for the government. Hopes strengthened that it will be able to mobilise Rs 15,500 crore through land auctions in the new fiscal 2022-23.
With this, the state government is set to meet the shortfall in non-tax revenue collections in 2021-22 to an extent in March, the last month of this fiscal.
The government has auctioned plots in Bahardurpally and Thorrur under HMDA limits, Narketpally in Nalgonda district, Bhoothpur in Mahabubnagar, Gadwal, Kamareddy, Anthergoan in Peddapalli, Mavala in Adilabad and Yalal in Vikarabad district.
The auction evoked a huge response with buyers quoting prices much higher than the upset prices quoted by the government.
Municipal administration and urban development special chief secretary Arvind Kumar tweeted, "The Government of Telangana has successfully auctioned off residential plots in districts and realised Rs 500 crore in the last three days. This reaffirms the robustness of state's economy and citizens’ confidence."
The government had targeted to raise Rs 16,000 crore through sale of lands in 2021-22 but could realise only about Rs 6,000 crore so far. In the Budget 2022-23, the government proposed to raise Rs 15,500 crore through sale of lands and sale of Rajiv Swagruha flats in Hyderabad and Khammam, numbering about 2,246.
The government needs to mobilise funds for Dalit Bandhu before March 31 as Chief Minister Chandrashekar Rao has announced to extend the scheme to 100 families each in 118 remaining assembly constituencies this fiscal (2021-22) itself. The scheme requires Rs 20,000 crore in 2022-23 to cover two lakh families, for which a Rs 17,700 crore budgetary allocation was made.
The last month of this fiscal also generated huge revenues for the state government through property registrations. The government earned Rs 473.79 crore from March 1 to 17, taking the total collections this fiscal till March 17 to Rs 8,730 crore.
Besides, it earned Rs 293crore through e-Stamps (challans) for property registrations till March 17, taking the total collections this fiscal to Rs 5,041 crore.