Hyderabad
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 and land owners.
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.
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. “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 Huzurnagar went on a borrowing spree to buy huge tracts of land to make quick bucks. “Those who got hefty returns started re-investing hoping to rake in more moolah,” an expert pointed out.
Source: The Times of India, Hyderabad