Nation Current Affairs 05 Nov 2016 Land near Telangana ...

Land near Telangana offices is prime choice

DECCAN CHRONICLE.
Published Nov 5, 2016, 3:01 am IST
Updated Nov 5, 2016, 7:25 am IST
The realtors started visiting the possible new district locations from March and entered into deals with land owners.
The proposal to create Yadadri district with Bhongir as its headquarters and development work at Yadadri temple has fuelled rapid growth in the surrounding areas. (Representational image)
 The proposal to create Yadadri district with Bhongir as its headquarters and development work at Yadadri temple has fuelled rapid growth in the surrounding areas. (Representational image)

Hyderabad: The sudden rise in land value following the announcement of 17 new districts in TS has led to a spurt in land disputes.

All the revenue offices are flooded with complaints on land disputes with each complainant claiming ownership over the other. A large number of complaints were received in Medak, Nalgonda, Ranga Reddy, Adilabad and Karimnagar districts.

 

The land value in districts, which was in the range of Rs 10 lakh to Rs 20 lakh per acre, shot up to Rs 80 lakh to Rs 1 crore per acre with the announcement of new districts from Dasara.

Registration of several properties was halted due to disputes causing several hardships to genuine owners. The realtors started visiting the possible new district locations from March and entered into deals with land owners.

Land prices skyrocketed with several layouts coming up around the proposed new district headquarters. Agriculture land is being converted into plots for sale, without approvals from the local bodies.

 

“People are keen to buy lands in locations where temporary collectorates will come up and this is raising prices,” said Shekar Reddy, past president, Credai.

The proposal to create Yadadri district with Bhongir as its headquarters and development work at Yadadri temple has fuelled rapid growth in the surrounding areas. Farmers increased the rate from Rs 3 lakh per acre to Rs 20 lakh per acre. With this, all the sub-registrar offices in Telangana districts look crowded with buyers and sellers.

These offices which used to hardly witness 10 to 15 registration of documents per day now see the number increasing to 40 documents per day.

 

“A year ago an acre of land in Kothagudem was priced between Rs 50 and Rs 80 lakh on the main road and between Rs 30 and Rs 40 lakh in the interior. But with new district, the price of an acre has surged to Rs 3 crore and Rs 1 crore, respectively,” said V. Ramanna of Shilpa Real Estates.

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Location: India, Telangana, Hyderabad




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