TS eyes revenue from realty in new districts

Land prices in new districts headquarters shoot up

The TS government is keen to cash in on the realty boom after the creation of new districts from Dasara.

The government, which was so far confined to auctioning of land parcels in Hyderabad and Ranga Reddy districts, has now identified 7,900 acres in the districts, which will be put for auction soon.

Incidentally, the government could not earn even `500 crore through sale of land parcels in Hyderabad and RR districts due to poor response.

However, with announcement of 17 new districts from Dasara, land prices in the proposed district headquarters witnessed a steep rise.

Chief Minister K. Chandrasekhar Rao has set a revenue target of `11,000 crore this year through sale of land.

Land prices in Medak, Warangal, Adilabad, Nizamabad, Khammam and Nalgonda districts witnessed a steep increase since May this year, when Mr Rao announced carving out the new districts from Dasara.

The government has already set up a land bank in the existing districts for allotments to industries but found no takers during the last two years.

However, with announcement of the new districts, realtors are scouting for land which is close to the headquarters of the proposed districts to develop layouts, pushing up land prices.

The TSIIC, which manages the land bank, has been asked to take measures to put up prime lands close to new district headquarters for sale after Dasara.

Deputy CM and revenue minister Mohd. Mahmood Ali said, “The new districts have created a realty boom in existing districts. All sub registrar offices are witnessing increased property transactions since May this year. The government owns prime lands close to the new district headquarters which will be put up for sale soon to generate revenues for state exchequer to take up various welfare schemes and development programmes.”