Government employees as well as the public were given the opportunity to apply. Officials estimate that around one lakh applications will come in the days of this month. The flats will be allotted on June 22 through a computer lottery. 1,501 flats for sale in Bandlaguda and 1,470 in Pocharam. In Bandlaguda, a single square foot (ready to occupy) is priced at Rs 3,000 and a semi-finished at Rs 2,750. The rate was fixed at Rs 2,500 for those completed in Pocharam and Rs 2,250 for the semi-finished. Triple bedroom deluxe flat for sale in Bandlaguda for Rs 48,15,000. If you want to buy a flat outside in the same area, it is just over Rs 75 lakh.
The government has fixed a non-refundable fee of Rs 1,000 per application. With this, those who want to buy a flat are putting in more applications. 5 to 10 applications each in the name of family members and friends. It seems that they are doing this as there is a possibility of putting up a single application based on a person’s name. So far, the government has collected Rs 75 lakh through applications alone.
On the other hand, the housing department has set up special stalls in Bandlaguda. Given time to apply is 10am to 8pm. Fee and Aadhaar details are taken along with the application. Employees of public and private banks staying here say that they will give a loan of up to 90 per cent of the flat value according to the buyer’s salary and other qualifications. However, there are only 2,900 houses put up for auction by the government. Officials estimate that if 7,500 applications were received in just four and a half days, a total of one lakh applications would be received by June 14. The sale of the flats is expected to generate a total revenue of Rs 800 crore.