Nalgonda: Due to the decline in real estate sales, a number of owners have started holding fortunate drawings to sell their homes and plots, which frequently brings in more money than conventional real estate sales. Through a lottery that cost ₹500 per ticket, a homeowner from Choutuppal in the Yadadri-Bhongir district made more than the market value for his 66-square-yard home, encouraging others to adopt a similar tactic.
The homeowner, Kacherla Ram Brahmam, had put up a “house for sale” sign for a year and a half without luck. He started a lottery in September and sold 3,599 tickets for ₹500 apiece, earning ₹17,99,500—roughly ₹3 lakh more than what the realtors had promised. Inspired by this achievement, K. Ramesh from Nalgonda town likewise made the decision to hold a lucky draw for his 147-square-yard home, which is situated behind the office of the district education officer. He distributed pamphlets with a QR code for online purchase and set the coupon price at ₹999. After 3,000 coupons are sold, Ramesh intends to hold the draw.
For his 200-square-yard available plot at Shiva Sai Nagar in Huzurnagar, Suryapet district, realtor Donthagani Gopi also announced a lucky draw. In addition to offering five consolation prizes—an electric scooter, refrigerator, sofa set, dining table set, and single cot bed—he put the coupon price at ₹2,500. All of these lotteries have one thing in common: the winners have to pay for property registration. On the day of the draw, the winners will get the property paperwork.
