Real estate growth in Nalgonda section spawns unlawful land ventures

June 10, 2012 - PRLog -- It's a realty roll in Nalgonda district at the moment. From Rs 1,500 per square yard a couple of years ago, the land rates have skyrocketed to Rs 15,000-20,000 per square yard now. The realty boom may have gladdened the realtors, land owners and forces inimical to separate Telangana, but it has spawned several illegal ventures which mushroomed over the last two years.

As many as 1,372 illegal layouts have sprouted all over the district. Close to 245 gram panchayats are facing this layout madness and the revenue officials have issued notices to not less than 1,145 realtors. "Two years ago, the land rates were between Rs 1,500 and Rs 2,000 per square yard. Now, a piece of land close to the national and state highways costs a bomb," S Chandrasekhar, a small-time realtor, points out.

Thanks to the huge demand for residential complexes, the new bypass road and Mahatma Gandhi University in Nalgonda, Narketpally, Kodad and Miryalaguda have emerged as realty hubs. In Nalgonda town alone, 98 illegal layouts have been recognized by the district administration.

The stretch between Nalgonda and Narketpally sells like hot cakes extending up to Duppalapalli. Sagar Road up to Chintagudabavi and Darvesipuram on Devarakonda Road is also a 'hot realty' zone. Officials identified 76 illegal layouts in Narketpally panchayat limits recently. "Nalgonda has suddenly become a hot spot for realty boom because the water crisis has been resolved to a large extent. Previously, we used to get water once every 8-10 days. Now, the situation has improved with Krishna water supply once every three days," Burra Prem Kumar, a resident of Narketpally, said.

Market analysts said people from neighbouring districts such as Hyderabad, Rangareddy, Guntur and Krishna are coming forward to buy plots because of huge employment potential as well. Businessmen and upper middle class people from Nalgonda, Miryalaguda, Nakrekal, Chityal, Suryapet, Neredcharla and Huzuagar went on a borrowing spree to buy huge tracts of land to make quick bucks. "Those who got hefty retus started re-investing hoping to rake in more moolah," an expert pointed out.

Meanwhile, officials are at their wit's end with the booming illegal realty racket as most of the realtors are in cahoots with local politicians. "People should be wary about illegal ventures. We can take action against such ventures," waed Padmakar, RDO, Nalgonda. For instance, realtors in the tribal-dominant Devarakonda are promising moon to the buyers by claiming that the town would soon be made into a municipality and that the land rates would see a massive jump


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