Mixed response to 2BHK housing shop auctions in Rangareddy from bidders
The Housing Department’s auction of commercial shops in double-bedroom housing complexes in Rangareddy district saw mixed response, with strong demand in Shankarpally and Narsingi but weak participation in other locations. More auctions are scheduled next week across Hyderabad and nearby districts.
Hyderabad: The Housing Department’s auction of commercial shops in double bedroom housing society complexes across Rangareddy district received a mixed response from bidders.
Auctions were conducted at eight housing society locations. While four locations saw encouraging participation, the remaining four fell short of officials’ expectations.
A total of 92 shops were put up for auction at Thatiannaram, Hattiguda, Thimmaiguda and Abdullapur on Thursday. However, only 30 shops were successfully sold.
Officials said that although these complexes have good road connectivity, they are located away from main roads. This may have discouraged bidders.
“The department will take a decision on auctioning the remaining 60 shops in these areas,” an official said. Successful bidders must pay the bid amount within one month, failing which their earnest money deposit will be forfeited.
In contrast, auctions at Mankhal-II, Mansanpally I and II, Narsingi and Shankarpally saw strong demand on Friday.
All 79 shops in Shankarpally were sold, with bids ranging from Rs 6,000 to Rs 8,000 per square foot, well above the upset price of Rs 2,200 per square foot.
Similarly, all 35 shops at Mankhal and 10 shops at Narsingi were sold. At Narsingi, bids ranged between Rs 10,000 and Rs 14,000 per square foot, against an upset price of Rs 5,500.
At Mansanpally, 39 out of 57 shops were sold. Prices ranged from Rs 3,000 to Rs 8,650 per square foot, compared to the upset price of Rs 2,000 to Rs 2,200.
The commercial shops were originally constructed by the previous BRS government to help resident welfare associations generate income for maintenance through rental revenue. However, citing issues such as rent defaults and legal disputes, the department opted to auction them.
More auctions are scheduled next week in Hyderabad (77 shops), Medchal-Malkajgiri (892 shops) and Sangareddy (372 shops).
