The prospects of Greater Hyderabad, Outer Ring Road, Proposed IIT in Isnapur and Novartis Research center in Sultanpur, has led to the shooting up of land values in the urban mandals of Medak district bordering the twin cities.
The mad rush for land in the mandals adjoining twin cities has prompted the Medak district administration to set up a land protection cell and freeze all transactions pertaining to Government land so that common man is not put to trouble.
Prices skyrocketed with the realtors shifting their operations from the Shamsabad International airport to the much attractive Outer Ring Road. Property in Jinnaram, Patancheru, and Ramachandrapuram mandals suddenly turned hot.While the land value in housing ventures has remained between the Rs 3,000 and Rs 4,000 mark per square yard the value in acres has crossed all logical limits. The last year auction by the district administration saw K.S.R.Constructions of Hyderabad grabbing one acre of land at Rs 1.85 crores. The district garnered Rs 19.28 crores from the sale of 20 acres in Patancheru and Ramachandrapuram mandals. On the other hand the realtors feel that the price is justified because of the proximity of Patancheru and Ramachandrapuram mandals to the Hi-tech city.
ORR is the key word
With the Outer Ring Road certain to pass through Jinnaram, Patancheru and Ramachandrapuram mandals more than 75 real estate ventures have come up in Velmela, Chetlapotharam, Vayilala, Ramachandrapuram, Patancheru, Pati, Nagulapalli, Kollur and Tellapur areas. Land value in Kollur village close to Madhapur and Gachibowli has gone up after the April 21 notification for the ORR.
One acre of land in Kollur which would have fetched only few lakhs a year ago now costs Rs. 1 crore. With most of the farmers succumbing to the lust of the lucre and re-investing the booty in farmland, the land values in far off mandals also rose. In 2004-2005, 57,224 registrations took place in the district. In the last six months, a staggering 41,618 was the number.
The mad rush for land in the mandals adjoining twin cities has prompted the Medak district administration to set up a land protection cell and freeze all transactions pertaining to Government land so that common man is not put to trouble. A land protection cell has been set up for the urban mandals to enquire about illegal sale. In addition maps are drawn showing land under various categories in colour to freeze them at a particular date making any change in status noticeable. The revenue department has banned all assignments of land and its mutations. The Mandal revenue officers have to take permission of the Joint Collector before making any changes. All the records are to be scanned. Assigned land, which has not been utilized for the purpose it was meant, would be taken back as per the Prevention of (Illegal) transfer Act 1977.
Source: The Hindu
Includes minor changes to the source article.
