Warangal, November 2
The reorganization of districts have made the land prices to sky-rocket in the newly formed districts.
Warangal district was divided and five new districts – Warangal rural, Warangal urban, Mahabubabad, Jayashankar and Jangoan – were formed.
The realtors have purchased lands on large scale at the first indication of new districts formation. They even have not wasted time to start ventures also. The government’s announcement of new districts on Dasara festival day brought cheers to them.
But after the announcement the land rates in Mahabubabad and Bhupalpalli have increased manifold and even the realtors had to buy them at a high prices.
The land prices in and around Warangal rural district were increased and new ventures are coming up in Vardhannapet and surrounding areas. Earlier the land rate here was Rs 50 lakh per acre and now it was jumped to about Rs one crore.
The lands in Geesukonda have increased since Textile Park is coming up here besides the existing ginning mills. The registration officials said that the land sales have increased in the last one month.
More people are buying lands in Mahabubabad district as there are chances of business and commercial development. New employees colonies, housing societies are coming up as the staff of new collectorate, sp and other offices have to stay locally.
Real estate contractors are constructing apartments near the government offices. Even though farmers were happy for the high price for their agricultural lands, they were also lamenting for the loss of farm land.
The land rates in Bhupalpalli were already high as singareni mines, KTPP are located here only. Now the rates have skyrocketed with the formation of Jayashankar Bhupalpalli district.
The price which was Rs 40 lakh per acre one month ago was now crossing Rs one crore. Agricultural lands within the radius of 15 km from Bhupalpalli are now turning into open plots. The land rate beside Bhupalpalli-Parkala road is now Rs 1.5 crore per acre.
But the situation is somewhat different in Jangaon district. Since none expected that Jangaon district will be formed, the realtors had purchased lands near Aler, Yadadri.