Gollapudi Srinivasa Rao

Those who invested huge sums in land are in deep trouble

  • Land prices jacked up with talk of separate Telangana and airport at Mamnoor
  • Frenzied buying of land by all and sundry, particularly software industry employees
  • WARANGAL: After a steady and steep increase in the prices of land, the trend has now witnessed a reverse turn. Realtors tried to make much selling separate Telangana, airport at Mamnoor and what not. Those who wished to make a fast buck are in turmoil.

    The land rates, particularly on Hyderabad and Khammam routes, touched an all-time high in the district. The possibility of more development in the event of a separate Telangana state and false propaganda that airport would be developed at Mamnoor on the town outskirts appealed the most. Businessmen and realtors virtually tried to grab every piece of land on either side of the road.

    The land on either side of road commanded anywhere between Rs. 4 lakhs to Rs. 40 lakhs per acre. Beginning from Kazipet till Station Ghanpur, there was no land available for sale till recently and so also on the Khammam road till Wardhannapet mandal and beyond.

    Airport ruled out

    Now those who have invested huge sums are in deep trouble as there are no takers. Though the possibility of an airport in the district was ruled out long ago, the realtors duped the gullible public. According to State Government officials, there is no chance of airport in the next 20 years. A proposal would only come up for consideration after 2030. It was agreed by the Government that it would not develop any other airport within 120 km in air around the Shamshabad international airport, Hanamkonda MP B Vinod Kumar said speaking to The Hindu .

    Recent times witnessed frenzied buying of land by all and sundry, particularly the software industry employees who were seen touring the interior villages in cosy vehicles on Sundays.

    Agriculture affected

    Eighty-year-old S. Jagannatha Rao of Wardhannapet mandal, describing the trend as bad, said the farmers are being deprived of their vocation. Offering huge sums, the farmers are being displaced. "Those buying 30 to 50-acre land were enclosing it with fence and leaving it. They neither do agriculture nor allow others to use the land for agricultural purposes. It leads to chaos in the days to come," he observed.