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New districts plan flares up prices

TRS ministers, MLAs announce possible locations of new headquarters before state finalises areas

Hyderabad: The recent decision of the state government to create new districts has resulted in an increase in land prices in areas where the new district headquarters are likely to be located.

Though the government is yet to finalise the new districts, the proposals on possible new district headquarters are being announced by ministers and public representatives of the ruling TRS at various meetings.

With this, land prices in Medak, Siddipet, Sangareddy, Vikarabad, Jagital, Jangoan, Manc-herial, Nagarkurnool etc have shot up phenomenally.

An acre which used to fetch a few lakh rupees has now crossed Rs 1 crore-mark with realtors taking up layout development by purchasing agriculture and waste lands with no major restrictions in village panchayats over conversion of land from agriculture to residential or commercial purpose unlike in GHMC and HMDA limits.

The realty boom is being witnessed more in Medak, the home district of Chief Minister K. Chandra-sekhar Rao which is also represented by key TRS leader T. Harish Rao as MLA of Siddipet from the same district.

It may be recalled that the CM had already made an announcement on a few occasions earlier at public meetings in Medak about trifurcating the district as Medak, Sanga Reddy and Siddipet.

Though Medak is already a district, its headquarters is located in Sanga Reddy. Mr Rao announced that Medak district with Medak town as headquarters will be created soon.

The Cabinet approval for new districts fuelled an unprecedented boom in Medak that a 300 sq.yard plot in Ajampura area in Medak town was recently sold for a little over Rs 1 crore, with each sq.yard selling for Rs 35,000, which is on par with rates in Hyderabad.

Similary, another 500 sq.yard plot in Autonagar with four shop mulgis in the same town was recently sold for Rs 1.22 crore, a price never heard of in Medak district., indicating that property prices may touch even higher levels once the district is officially announced.

“Same is the case with Vikarabad, Mancherial, Nagarkurnool, Jangoan etc, where the price band of acre ranged from Rs 20 lakh to Rs 50 lakh till last year, which now crossed 1-crore mark. Realtors are making a beeling to panchayat offices to secure permissions for layouts to develop plots and sell them off," said V.Anand Sai, a city-based realtor.

The sharp increase in land prices is also fuelling demand for creation of few more new districts. The demand for creating few more districts in Warangal, Karimnagar and Mahabububnagar districts has been gaining momentum for locals.

( Source : deccan chronicle )
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