Hyderabad: Following bitter results in the previous two phases of land auctions, the Telangana State Industrial Infrastructure Corporation Limited is concentrating on prime localities for phase-III.
The TSIIC held auctions for 113 acres in phase-II in mid-May where only 33 acres were sold. The remaining land did not get good response because it was located in rural areas. The first phase evoked poor response as well.
The highest price quoted was Rs 29.2 crore per acre in Raidurgam and in second phase it was recorded at Rs 29 crore per acre in Khanamet near Hitech City. The government had expected break the record set in the first phase, but Khanamet land was sold at a price lower than the previous highest bid.
The government got Rs 350 crore against its estimations of Rs 700 crore in Phase-I and Rs 200 crore against the estimated revenue Rs 3,000 crore in phase-II of land auctions.
In the Budget, the government had announced that nearly Rs 11,000 crore of revenue was expected from the auction of lands across the state. With response being below par during the first two phases, TSIIC is now planning to auction land in the IT corridor.
In the last two auctions, it was found that bidders vied for lands in Ranga Reddy district against prime land in Jubilee Hills and Banjara Hills under Hyderabad.
TSIIC is planning to auction evacuee land in Puppalaguda in phased manner. Nearly 200 acre of evacuee land worth Rs 8,900 crore is available with the government.
A TSIIC official said this time the corporation would auction lands located nearby areas to Madhapur, Gachibowli and Rajendranagar. “In the third phase, the government will call for auctions targeting Rs 1,000 crore revenue apart from leftover parcels from earlier phases,” he said.
