Hyderabad: The state government has launched the sale of Rajiv Swagruha flats for government employees for at lower price. Flats will be sold online and unsold units will be offered to others later.
Housing minister A. Indrakaran Reddy launched the website www.tsswagruha.cgg.gov.in for the purpose on Saturday. He said 2,245 flats in Bandlaguda and 1,474 in Pocharam would be put up for sale.
In Bandlaguda, 316 flats are ready for occupation, and 1,929 are semi-complete. Buyers will have to pay for the rest of the work. The government has fixed Rs 1,900 per sq. ft for completed flats and Rs 1,700 for semi-finished units.
In Pocharam, 969 flats are ready and will be charged at Rs 1,700 per sq, ft, while 505 semi-complete will cost Rs 1,500 per sq. ft.
The decision will cause the government a loss of nearly Rs 530 crore as it is selling the flats for lower than the cost of building them and repaying bank loans.
Mr Indrakaran Reddy said selling the flats would prevent further losses that would accrue from keeping them vacant. The sale would benefit government employees who played a key role in the statehood agitation.
Employees leader and TRS legislator V. Srinivas Goud and TNGOs president Karem Ravinder Reddy thanked the CM for offering them flats for lower rates.
The flats were constructed between 2007 and 2010 and work had stopped midway due to a cash crunch.
After the formation of the state, the government inherited a burden of Rs 1,069 crore for construction of the flats. The government has repaid bank loans amounting to Rs 820 crore so far. The government expects to earn Rs 545 crore through the sale of the flats.
