After a gap of four long years, The Andhra Pradesh Housing Board (APHB) is back with plot auctions in the city. It is planning to launch its first phase of auction on last week of November at Kukatpally Housing Board (KPHB) Colony phases 4,6,9, and 15. At this phase the board auctions 14 plots of which nine are located in phase 15, two plots each in phase 9 and phase 6 and one in phase 4, said the sources.
The officials also mentioned that of the 14 plots to be auctioned, four plots are for High Income Group (HIG), six plots for Middle Income Group (MIG) and three plots for Low Income Group (LIG). They also fixed the upset price between Rs 20,000 and Rs 40,000 depending on the area and size of the plots.
Citizens who are interested to buy the said plots can submit their bids in sealed covers and participate in the auction on November 22. Every successful bidder would have to deposit 25% of the bid amount and 1% as auction expenses within 24 hours of the auction and the balance amount could be paid within 3 months. Any delay from the mentioned period would attract 14% interest to be charged on the remaining amount.
The APHB officials also added saying that the allotted land should be utilised as per the norms by taking the permissions from the authorities. The owner of the land should bare the entire responsibility to remove all the lines like electricity lines, water pipes, telephone cables passing through the site with his own expenses.