Revoking 111GO – City After This,
An upcoming city is on the horizon near GHMC, promising a substantial land reserve for governmental and real estate needs due to the cancellation of GO 111.
Reality experts states that with the liberation of 84 villages from land management restrictions, commercial development opportunities will abound.
The government envisions substantial revenue from the sale of lands in these villages, with an expected surge in the real estate sector.
It anticipates generating a minimum of Rs 50,000 crore through land sales during the current fiscal year.
The Revenue Department has identified approximately 30,000 acres of government land across various locations.
- The identified land is in Moinabad (5,700 acres),
- Shamshabad (8,004 acres),
- Gandipet (1,800 acres),
- Shabad (626 acres),
- Shankarpally (780 acres), and
- Chevella (1,360 acres), according to official sources.
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The current market value of the land ranges from Rs 50 lakh to Rs 70 lakh per acre in these six areas.
However, with the expected real estate boom, the land value is projected to rise to Rs 3 crore per acre. The sale of land and property registrations in 84 villages will contribute significantly to boosting tax revenues.
The process of land identification has been finalized, marking an important step toward the development of the designated areas.
The government’s focus now shifts to creating well-designed layouts and essential civic amenities like power supply and water networks in the vacant land.
Notably, the HMDA rules will be applied to the land, developed in villages where real estate companies have already started acquiring land for their projects.
This move ensures that the upcoming ventures adhere to the established standards and regulations set by the civic authority, guaranteeing planned and organized growth in these areas.
To sell plots and commence construction activities, these companies must adhere to HMDA rules and develop necessary amenities.
The government’s primary challenge lies in preserving the Osman Sagar and Himayatsagar reservoirs and their surrounding areas while promoting real estate businesses.
It’s worth noting that all 84 villages are in close proximity to the thriving IT hub established in the Gachibowli zone.
Sources indicate that a master plan will be formulated to simultaneously promote real estate and the IT industry in these areas with high business potential.
This integrated approach aims to maximize the growth and economic prospects of both sectors.
