KCR Govt Earned Rs 14,324 Crores In 10 Days

Hyderabad, Aug 13 (Maxim News): Chief Minister K. Chandrasekhar Rao’s government earned Rs. 14,324 crores in 10 days in the form of land sales and outer lease, this was also achieved because of the cancellation of G.O 111, at a time when the real estate seems to have fallen, the real estate giants participated in the online bidding organized by HMDA in different areas.

With this, the KCR government through HMDA got huge income, in the first week of this, the online bidding conducted for the second phase of Neopolis land in Kokapet fetched Rs. 3,319.60 crores in revenue for 45.33 Exceptionally, an acre was sold for more than Rs. 100 crores.  An acre was sold at an average price of Rs. 73.23 crores in Kokapet, while in Budvel it was sold at a maximum price of Rs. 41.25 crore per acre.  An acre was sold at an average rate of Rs. 36.25 crores.  The government got an income of Rs. 3,625.73 crores on a total of 100.01 acres in Budvel.

IRB Infra, which secured the lease of the Outer Ring Road, recently paid Rs. 7,380 crore to HMDA in one lump sum.  with this, HMDA has collected more than Rs. 14,324 crores in income in the last 10 days.  On the other hand, the plots sold in Kokila and Shabad also received an unexpected response from the real estate community and middle-class people.  This month, the latest notification has been released for selling more lands in Medchal, Rangareddy, and Sangareddy districts.  HMDA officials are estimating that there is a possibility of getting another Rs. 7,380 crores from IRB Infra company which has secured the lease of 158 kilometers of Outer Ring Road through the Toll Operate Transfer (TOT) method, the lease will continue for 30 years.  Officials heaved a sigh of relief as the tender amount was paid in August itself despite the deadline of September 24, with this, HMDA officials said that Outer Ring Road, which wa under the management of HGCL till now, has gone under the management of IRB Golkonda Expressway Pvt Ltd, an affiliate of IRB from Friday midnight. (Maxim News) 

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