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After Telangana CM’s promise, land rates set to soar in GO 111 villages | Hyderabad News
HYDERABAD: With restrictions on construction activities in the catchment areas of Himayatsagar and Osmansagar set to ease with a possible repeal of GO 111 soon, land rates in villages falling in the GO’s ambit, especially those in the vicinity of Hyderabad, are likely to see a sharp increase.
The present values in these areas range from Rs 5 crore to Rs 10 crore per acre and are likely to double once the GO is scrapped. While environmentalists are up in arms against the government’s proposal to scrap GO 111, realtors and farmers, however, are happy that they would be getting a good price for their land at last.
Local realtors and registration department officials are expecting a major jump in the land values in about 20 villages (of total 84) like Vattinagulapally, Khanapur, Mirzaguda, Janwada, Aziznagar, a part of Shamshabad and villages in Shankarpally and Moinabad mandals like Podduturu and Tanguturu once the rules are relaxed.
“Vattinagulapally has proximity to the Financial District and Khanapur is close to Kokapet. While the HMDA sold land at Rs 30 crore to Rs 60 crore per acre in Kokapet during the recent auctions, the land value in Khanapur is about Rs 10 crore per acre. If the restrictions are eased, the land rates will jump rapidly,” G Srinivas Reddy of Guru Krupa Constructions said.
In some of the villages in Vikarabad district, which also fall under GO 111 ambit, the present rate is not more than Rs 30 lakh to Rs 40 lakh per acre, but experts are sure the land will fetch Rs 2 crore to Rs 3 crore even in remote areas once the GO is rescinded.
Lull in registrations expected
Senior officials are expecting a lull in registration activities for some time as those who want to sell their land holdings will wait for a good price after the GO is withdrawn. However, P Karthik Reddy, who filed a PIL in National Green Tribunal against GO 111, said with imposition of restrictions on construction activities in 84 village, land prices in these villages will increase while values in areas surrounding GO 111 villages will decrease.
“We are not against the protection of the two lakes, but there should be a scientific analysis and data and systematic easing of the rules. The restrictions are in violation of Articles 14 and 15 of the Constitution,” Karthik Reddy told TOI. Officials said realtors have already developed layouts illegally in Vattinagulapally, Moinabad and other areas, sold them and even registered them in guntas. “Over 1,200 illegal buildings in GO 111 limits have been identified and some have been demolished. The present exercise will help regularise illegal layouts and constructions,” an official of Rangareddy said.
The present values in these areas range from Rs 5 crore to Rs 10 crore per acre and are likely to double once the GO is scrapped. While environmentalists are up in arms against the government’s proposal to scrap GO 111, realtors and farmers, however, are happy that they would be getting a good price for their land at last.
Local realtors and registration department officials are expecting a major jump in the land values in about 20 villages (of total 84) like Vattinagulapally, Khanapur, Mirzaguda, Janwada, Aziznagar, a part of Shamshabad and villages in Shankarpally and Moinabad mandals like Podduturu and Tanguturu once the rules are relaxed.
“Vattinagulapally has proximity to the Financial District and Khanapur is close to Kokapet. While the HMDA sold land at Rs 30 crore to Rs 60 crore per acre in Kokapet during the recent auctions, the land value in Khanapur is about Rs 10 crore per acre. If the restrictions are eased, the land rates will jump rapidly,” G Srinivas Reddy of Guru Krupa Constructions said.
In some of the villages in Vikarabad district, which also fall under GO 111 ambit, the present rate is not more than Rs 30 lakh to Rs 40 lakh per acre, but experts are sure the land will fetch Rs 2 crore to Rs 3 crore even in remote areas once the GO is rescinded.
Lull in registrations expected
Senior officials are expecting a lull in registration activities for some time as those who want to sell their land holdings will wait for a good price after the GO is withdrawn. However, P Karthik Reddy, who filed a PIL in National Green Tribunal against GO 111, said with imposition of restrictions on construction activities in 84 village, land prices in these villages will increase while values in areas surrounding GO 111 villages will decrease.
“We are not against the protection of the two lakes, but there should be a scientific analysis and data and systematic easing of the rules. The restrictions are in violation of Articles 14 and 15 of the Constitution,” Karthik Reddy told TOI. Officials said realtors have already developed layouts illegally in Vattinagulapally, Moinabad and other areas, sold them and even registered them in guntas. “Over 1,200 illegal buildings in GO 111 limits have been identified and some have been demolished. The present exercise will help regularise illegal layouts and constructions,” an official of Rangareddy said.
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