Hyderabad: The Telangana state government has resumed auction of valuable land parcels in the city. The government has put up for sale plots admeasuring nearly 75,000 sq. yards located in Raidurg, Khanamet etc which are part of IT corridor.

The e-auction will be held on May 18 from 12 noon to 3 pm.

The government is hopeful of earning over Rs 600 crore through this sale. The government had conducted auctions during May and August last year. It had scheduled the next auction in November last but this was put off due to the real estate slump following demonetisation.

The government feels that the fresh auction would enable it assess whether the real estate sector had picked up in Hyderabad or not after demonetisation. In the auctions held in March and August last year, though different land parcels were put up for sale, only those falling under the IT corridor limits found takers. Keeping this in mind, the government has notified only those land parcels for sale this time that fall under the IT corridor.

The TS Industrial Infrastructure Corporation has kept six land parcels for sale. While three of them are located in Hyderabad Knowledge City, which is in Raidurg, the other three are located near Hitec City railway station, which is in Khanamet. All these land parcels have been notified under ‘multi-use category’.