Knight Frank, real estate consultants of international repute, has been selected through bidding to evaluate the market price of the vacant 3,716 flats in Bandlaguda and Pocharam Rajiv Swagruha townships.
The consultancy has also been asked to submit a report on the expected revenue if the flats are auctioned individually or to real estate giants in one or two lots. The report should be submitted within 10 days to the government.
Though the government has decided to auction the flats on “as is where is” basis i.e., without carrying out any further repairs or adding infrastructure to it, a final call will be taken by chief minister K Chandrasekhar Rao after the report is submitted to him.
R&B minister Vemula Prashant Reddy said the guidelines for auction-cum-sale of Swagruha flats are being finalised. The prices for sale of flats would be fixed by taking into consideration its saleability in the open market. There are a total of 3,716 flats that are lying vacant in the townships at Bandlaguda and Pocharam.
In 2007, then-government in undivided AP had announced Rajiv Swagruha housing scheme for urban middle class. For this, Andhra Pradesh Rajiv Swagruha Corporation Limited (APRSCL) was established.
After Telangana state’s formation, APRSCL cleared bank loans and released all projects from mortgage. In 2016, the government decided to allot the flats at Bandlaguda and Pocharam to government staff, but there were hardly any takers.