There is a poor response from people to purchase the flats at Andhra Pradesh Housing Board (APHB) venture-2 at Kukatpally. Only few people turned up to pay the initial 10 percent of the flat cost. Many reasons could be attributed to this lukewarm response including the fall in real estate prices, private firms offering flats at a lower rates and Kukatpally being located on outskirts of the city.
The APHB proposed to construct around 1,500 flats for the people of low-income group (LIG). But only about 460 applicants paid 10 percent of the flat cost and expressed their enthusiasm to pay the remaining amount to own the flat.
The board planned to construct 756 two bedroom and 756 single bedroom flats under ‘ground plus nine floors’ scheme at the venture. Initially the plinth area of the double bedroom was 400 sq. ft. and 300 sq. ft. for a single bedroom flat. Later after several suggestions from builders and people, the board decided to increase the plinth area of the double bedroom flat from 400 sq. ft. to 580 sq. ft. and single bedroom flat to 460 sq.ft. from the initial proposed 300 sq. ft. It decided to construct the venture in over eight acres of land at Kukatpally Housing Board (KPHB) phase-IV.
The board fixed the price of a two bedroom flat at about Rs.8.5 lakh and Rs.6.75 lakh for a single bedroom flat, which accounst for Rs.1,500 per sq. ft. at Kukatpally. According to some sources, some private builders are said to offer flats at the rate of Rs.1,000 to Rs.1,200 per sq. ft. in that area.
Though the APHB managed to increase the area of the flats and is planning to develop the amenities and infrastructure facilities, only a few people are showing interest to purchase the flats.