Hyderabad: State government employees have sought Rajiv Swagruha flats in Bandlaguda and Pocharam at much cheaper rates than offered to the public in the recent e-auction that failed to attract any buyers.
Though people had offered to buy these flats if the rates were reduced, there was no response from the government. The government decided to allot these flats to its employees and convened a meeting with employees associations to finalise the rate.
Employees’ leaders said that they would purchase the flats if they were offered for Rs 1,100 per sq. ft to Rs 1,300 per sq. ft. During the recent e-auction that was open to public, the minimum price prescribed was Rs 2,800 per sq. ft for finished flats and Rs 2,200 per sq. ft for semi-finished flats in Bandlaguda. In Pocharam, the price band was Rs 1,700 to Rs 1,900 per sq. ft.
The proposal was put before housing minister A. Indrakaran Reddy who remained non-committal and said he would take up the issue with the Chief Minister for approval.
If approved, the government would suffer an estimated loss of around '300 crore. The recent estimates prepared by housing officials suggest that the government could recover at least construction and other costs if it prescribes a rate of at least Rs 1,800 per sq. ft.
However, the employees say that the flats were constructed over seven years ago and they could get new flats in the same area at the prices prescribed by officials.
There are about 2,244 flats in Bandlaguda and 1,474 flats in Pocharam on offer. In Bandlaguda, 316 flats are ready for occupation and 1,928 are semi-finished, while In Pocharam, 969 flats are ready and 505 semi-finished.
TNGOs leaders said that they were ready to purchase all the flats if they are offered for less than Rs 1,200 per sq. ft. “We visited the flats and examined the conditions there. They are over seven-years-old. Even for finished flats, we have to shell out a few lakh rupees for renovation as they are lying vacant for a few years. It would be viable only if they are sold for less than Rs 1,200 per sq. ft,” said K. Ravinder Reddy, TNGOs Association president.
