ON AVERAGE, land value has increased by `4,000 to `5,000 per sq. yard for residential areas and `6,000 in commercial areas. In some cases it has touched `8,000 in the western parts.

and provide employment opportunities.

Most of the layout and building permissions have been given around Ghatkesar, Bhongir, Medchal, Uppal, Nizampet, Bachupally, Adibatla and Shamshabad.

Mr Gummi Ram Reddy, president of the Confederation of Real Estate Developers Association of India (Credai), Telangana, said there has been a 20 per cent growth in the real estate sector in the city since the formation of Telangana state. He said that a stable government, affordability of land, 24/7 electricity and an expanding IT sector and the announcement of the Pharma City have

not only attracted investors from other metro cities in the country, but also from across the globe.

“The TS-iPass has given a major boost to setting up industries which also attracted several industrialists to invest in the city. The real estate sector has already seen a growth of 25 per cent during the current financial year. The rise has been seen in both residential and commercial sectors,” Mr Ram Reddy added.

Mr C. Sekhar Reddy, former national president of Credai, said land value has seen a steady growth since 2017. On an average, land value has increased by `4,000 to `5,000 per sq. yard for residential areas and `4,000 to `6,000 in commercial areas, and in extraordinary cases it has also touched `8,000 in the western part of the city where the IT sector has been rapidly expanding. Mr Sekhar Reddy said that the land value at Mokila near Shankarpally had nearly doubled while the remaining area on the outskirts had seen 15 per cent to 20 per cent increase in land value. He said that investors are getting 80 per cent returns on their investments, which has been good for the development of the city.

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