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Land prices soar as KCR heli hops
Telangana State is witnessing a new phenomenon in the real estate. The hitherto subdued land prices are rising steeply the moment Chief Minister K Chandrashekar Rao takes an aerial survey of the place. As he is unveiling grandiose plans for allround development of the state,
Hyderabad: Telangana State is witnessing a new phenomenon in the real estate. The hitherto subdued land prices are rising steeply the moment Chief Minister K Chandrashekar Rao takes an aerial survey of the place. As he is unveiling grandiose plans for allround development of the state, spreading mega projects far, punters in the real estate are keenly guessing his next move, rather next aerial survey, so as to land at the places surveyed.
- Wherever KCR hovers over, real estate prices seeing spurt
- Subdued for three years, land prices get wings in districts
Real estate sharks seem to be capitalising on the various aerial surveys taken up by KCR as part of his plans to usher in a ‘Golden Telangana.’ A study of the ground situation in various districts has indicated that wherever the Chief Minister has undertaken aerial survey, the land prices have skyrocketed, giving a new life to reality sector in the state.
KCR announced such mega projects as film city, pharma city, textile hubs, recreation centres and power projects in the last one month. It all began with the first aerial survey in Mucherla village in Ranga Reddy districts, 48 km away from here, on December 3 and the announcement of Pharma City led to hectic activity on the real estate front and the land prices got inflated.
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The proposal to set up Pharma City including township for employees in 11,000 acres in Mucherla and Kadthal areas in Mahabubnagar district came as a shot in the arm for the farmers to hike land prices instantly in the two districts. The industries propose to invest Rs 30,000 crore in the pharma city which would generate direct and indirect employment to 70,000 people.
Realtors are rushing to the places the moment the CM leaves and are paying advances and entering into agreements with farmers. Soon after the government announced that it would set up a Film city and Sports city and promote recreational, spiritual and adventure tourism at Rachakonda and the CM took up an aerial survey of the place, the prices shot up there too.
Hyderabad Realtors Association Secretary Jayachandra Reddy said the new proposals to set up entertainment city gave a big fillip to the realty industry which had been suffering for the last three years. The construction companies have already visited the spots and indentified the lands to take up construction and land purchase schemes.
