Land prices spiral on Hyderabad-Chevella highway

Land rates are booming in the area beside the highway as clearances have been secured for widening the stretch.  

Land prices have shot up on either side of the highway that connects Hyderabad to Chevella and beyond as the two-lane road is set to be turned into a 4-lane one. Land which used to cost ₹ 40-60 lakh an acre is now being bought and sold for ₹ 2.5-3 crore. “You want to buy this land? I have 1.10 acres. Part of it will go in the road-widening. The rest will be prime property,” said Kintaiah, who is set to harvest a modest crop of ridge gourd in Bastapur village.

“That plot of land which does not have direct access to the main road was sold for ₹ 2.6 crore to a lawyer from Hyderabad. Other deals are also taking place along the road,” said Kintaiah pointing to a plot of land parallel to the road. The Mandal Registration Offices in Chevella and Moinabad are busy places with hushed whispers and gossip. The amount of money changing hands never becomes clear as the government valuation of the land hovers around ₹ 5 lakh.

“Land prices are going up here as the GO 111 regulation doesn’t apply and it does not come under the Kandlapally Reserve Forest. But the 4-lane road and plan for Regional Ring Road are also factors for the boom in land rates,” says Bharat Singareddy, who owns land in Pudur village. Some of the villages that are covered by the GO 111 regulations in the area include: Yenkapally, Aziznagar, Surgangal, Kenkamadi, Mudimyal among others.

Land deals have reached a stage where any person stopping on the road is being asked about interest in land purchases. At a bakery, on the same stretch of road, the owner steps out and points in a general direction beside the road and quotes a rate that is also in crores. “The ring road is coming there. Many people are coming here to invest in land. Doctors are the biggest buyers,” says the bakery owner.

Adding to the speculation is the proposed 340-kilometre Hyderabad Regional Ring Road that is expected to intersect with NH-163 at Changomul village. The NHAI proposal for RRR involves a 4-lane access controlled road connecting the towns of Toopran, Choutuppal, Amangal, Shankarpally and Sangareddy and has the potential to transform the economies of these places.

While the land is being bought and sold at unheard of prices, land owners whose land will be acquired for the road project are expecting a compensation of ₹ 12.5 lakh per acre.

What about the 1,000 banyan trees that will get cut for laying the road? “The trees are part of the land. So many trees have been cut. These will also get cut,” says a farmer who is planning to dispose of his land and move to another village.

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Printable version | Dec 8, 2021 9:24:25 AM | https://www.thehindu.com/news/cities/Hyderabad/land-prices-spiral-on-hyderabad-chevella-highway/article37214627.ece

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