With an assumption that Greater Hyderabad will have radius of 100 km gives boost to business currently Realtors are queuing up to buy areas abutting National Highway 9 The trend is to buy large tracks of land in the city periphery.
While one acre of land in the Tellapur-Kollur area costs more than Rs. 1 crore, lands in Sadasivapet come cheaper.
Unable to deal with the increasing number of fraudulent real estate transactions in Patancheru, Aminpur, Tellapur areas of Medak district, realtors are now looking beyond Sangareddy. Vast tracts of land abutting the 13-km stretch on National Highway-9 up to Sadasivapet and Kankole cross roads have become hot property now with real estate dealers clamouring for a share of the pie.A. Swami Naidu of Jayanthi Real Estate said that he decided to search for lands on the periphery of the proposed Outer Ring road and zeroed on Sadasivapet. Initially, he purchased 70 acres and started a resort in it. Naidu said that unlike the bordering areas of twin cities, here the title of the property is clear and all heirs are usually willing to sign the deed.
This leaves little scope for fraud, he adds. The new projects coming up on NH-9 under the assumption that Greater Hyderabad will have a radius of 100 km have done tremendous business. Seventy per cent of the resorts and mango orchards were sold out in a few months.
While one acre of land in the Tellapur-Kollur area costs more than Rs. 1 crore, lands in Sadasivapet come cheaper. A software engineer from Silicon Valley D. Viay Kumar who owns a house in the city said that buying large tracts of land at cheaper rates now makes sense.
NRIs like Kumar who do not want to return to India right away but like to invest in real estate for cheaper rates fits the profile that the new brand of realtors are looking for.
Source: The Hindu
