The Telangana state government has recently put nearly 65 acres of land on Hyderabad city outskirts for auction to raise revenues.
Accordingly, the HMDA had issued notification on June 15 to auction lands. Most of these land parcels (plots) are located in prime IT corridor area in western part of the city which commands huge real estate value.
However, the government fixing minimum bid price of Rs 25 crore per acre has surprised corporates, builders and realtors.
This is because the land parcels in these areas fetched Rs 35 crore to Rs 40 crore during earlier auctions in 2016, 2017 etc. Many expected that the minimum price could be Rs 40 crore per acre.
This has raised doubts over the motives behind TRS government for fixing lower price.
Several builders and realtors in Telangana are considered close to CM KCR and his son KTR.
Opposition parties allege that few builders close to KCR and KTR have brought pressure on government to fix lower price so that they can claim valuable lands for lower price and earn heavy profits later.
Builders and realtors close to TRS are allegedly bringing pressure on others not to file bids or quote higher prices. They reportedly formed a ring to grab valuable lands for cheaper prices.
Whether these doubts are right or wrong would be known only on July 16 when bids will be opened.
Amyamya. Cheseyyadam batch mottam kalisi.