Telangana To Raise 10K Cr From Auction of Land Parcels

 - Sakshi Post

Telangana intends to raise ten billion rupees through the auction of land parcels.

As the e-auction of government land kicks off, Telangana looks to make up for lost revenues.

The SOP is intended to ensure that the sale deeds are completed smoothly and on schedule, as well as to obtain a fair market value for the property.

Telangana: The Telangana government has issued a standard operating procedure (SOP), which includes an e-auction process, for the disposal of government land and asset parcels that are under the control of various departments, are not required for any public purpose and are located in prime areas throughout the state.

The sale of government properties began on Thursday, after the release of a Standard Operating Procedure (SOP) by the Industries Department.

An SOP was issued in the name of Somesh Kumar, State Chief Secretary, on behalf of the Industries & Commerce Department, to auction these land parcels/assets located in various prime locations throughout the State, according to a Government Order issued in the name of Somesh Kumar, State Chief Secretary.

The SOP is intended to ensure that the sale deeds are completed smoothly and on schedule, as well as to obtain a fair market value for the property.

Last month, the State Cabinet voted to sell land and assets under the jurisdiction of the government and the Housing Corporation, signaling the beginning of difficult times. Following that, an SOP for the electronic auction process was issued, which had to be followed by several nodal entities.

According to directives issued by the Industry Department, land parcels will be transparently sold via e-auction in order to achieve competitive pricing. Land lots of more than 1,000 acres will be identified by District Collectors.

According to the Government Land Allotment Policy, the land was given to government agencies and private organizations for diverse purposes, but it was not to be monetized for resource mobilization. However, in order to avert any encroachment on these areas, these organizations have recently been given permission to sell these assets. Encroachments and unlawful occupancy are common on these property lots of varying sizes and types.

These land parcels might now be monetized by e-auction in a transparent way and at competitive rates, according to the SOP. All permissions will be made through TS-bPASS – the Single Window System – and these lands will obtain expedited and time-bound permission for layouts and immediate insertion into the Master Plans.

The government has given the Nodal Agency permission to hire advisors in order to arrive at fair prices.

Now, the relevant government departments will identify land that is not needed for immediate public objectives and is vulnerable to uncontrolled invasion. To assess the progress of auctions, a state-level steering committee will be formed under the chairmanship of the Chief Secretary and will convene every two weeks.

MSTC will be engaged

It has given the authorization to use MSTC (a government of India body) as an e-auction service provider. The District Collectors have been told to make sure the land is clear of any legal issues.

The government will engage MSTC (a government of India body) to run the e-auctions. The state administration is considering auctioning important land again after incurring a significant income loss as a result of the Covid-19-induced shutdown. The projected revenue from land sales was fixed at Rs 20,000 crore in the 2021-22 Budget. The state's non-tax revenue is expected to be Rs 30,557.35 crore this fiscal year, including Rs 20,000 crore from land sales.

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