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20/08/2017 - GHMC seeks report from Lodha Grpup regarding inadequate parking / amenities at Lodha Bellezza and Meridian Apartments, Kukatpally
20/08/2017 - Nucon Aerospace opens aerospace, defence component facility in Hyderabad
20/08/2017 - Kalyani group and Israel's Rafael Advanced Defence Systems has opened an anti-tank guided missile (SPIKE) production facility in Adibatla
20/08/2017 - Hyderabad is a fast emerging as a defense equipment manufacturing hub
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07/08/2017 - Telangana notifies rules under RERA - Telangana State Real Estate (Regulation and Development) Rules, 2017
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06/08/2017 - Osman Sagar and Himayat Sagar lakes to be De-Notified as Drinking Water Sources
06/08/2017 - GHMC/ HMDA/DTCP or Panchayat approval may be mandatory for registering properties
06/08/2017 - Tellapur News. Aliens signs Rs 580-cr pact for reviving project
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12/05/2017 - HMDA Land Auction near Hitech City and Gachibowli, Hyderabad
11/12/2016 - GO111 relaxation is under study says Telangana Government
11/12/2016 - Suspension bridge from Kavuri Hills to Inorbit Mall across Durgam Cheru Awarded to L&T
27/08/2016 - New Districts Formation in Telangana. Ranga Reddy cut to size! Chevalla loses out!
14/07/2016 - Hyderabad to have second Financial District - TSIIC hunts for land in Tellapur and Puppalaguda
18/06/2016 - Boeing flies into Adibatla Aerospace SEZ with Tata Group and sets up TATA Boeing Aerospace Limited
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12/06/2016 - Hyderabad Pharma City to be approved as a National Investment Manufacturing Zone
19/05/2016 - Apple's Offshore Development Center in Hyderabad Inaugurated
19/05/2016 - Alert! Land Registration Charge to be raised in Hyderabad and other hot locations
18/05/2016 - Apple set to inaugurate its First Offshore Development Center at Gachibowli in Hyderabad
06/05/2016 - Telangana to have 14 new Districts - Announcement expected on 2nd June
02/05/2016 - Tellapur Technocity Project - Developer asks Govt to let it develop 100 acres for which money was paid
14/04/2016 - Micromax Factory Starts Operations at Thukkuguda, Fabcity premises in Hyderabad
30/03/2016 - Amazon starts site development work at its Gachibowli Campus in Hyderabad
24/03/2016 - Wonderla Theme Park at Adibatla beside ORR, is expected to open in April
10/03/2016 - Key Points - The Real Estate (Regulation and Development) Bill
10/03/2016 - Cognizant to expand Facility in Gachibowli Hyderabad with 655 Crore investment
19/02/2016 - After Mumbai and Bengaluru, Hyderabad to get the third World Trade Center in India
16/02/2016 - Apple chooses Hyderabad for setting up its first Offshore Development Center
18/01/2016 - Retail Real Estate in Hyderabad booms, on the back of roaring food business! And Behungry will feed you while you save!
17/01/2016 - Booked Property with Mantri Group? Register it before any negative court order
10/01/2016 - Srisailam Highway posied to take off. A Business Standard Report
04/01/2016 - Last Date for BRS and LRS Extended till 31 Jan 2016
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26/11/2015 - Hyderabad Land Auction - Aurobindo Pharma buys land at the higest ever rate of Rs 29.28 crore per acre
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29/08/2015 - NALA Tax burden to hit developers and buyers in Hyderabad. Highcourt dismisses writ petition filed by Developers against NALA Tax
27/08/2015 - Full List of 98 Smart Cities Announced by the Center on 27th August. Telangana has just 2 Smart Cities
30/07/2015 - Techwave Consulting to add 1000 IT employees in Hyderabad by 2016
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16/07/2015 - Boeing and Tata Advanced Systems sign pact for aerospace equipment manufacturing in Hyderabad
12/07/2015 - IKEA buyes 13 Acre land near Hitec City, Hyderabad for 250 Crore
06/07/2015 - Shifting of Secretariat & Assembly. The Govt. Targets Hitec City after Chest Hospital & Bison Ground were dropped!
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Land price in Vizag flares up due to Smart City Tag

Hyderabad News. TOI 27.11.2014


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(Excl Ventures News.)All the buzz about transforming Vizag into a `smart city'' coupled with chief minister N Chandrababu Naidu''s promise of developing it into Andhra Pradesh''s IT, industrial, tourism and financial hub post bifurcation seems to have sent rates of land in and around the Port City spiralling northwards.

According to realtors, land parcels in prime locations along the road to Bheemili from NH-16, Gambheeram as well as Anandapuram-Bhogapuram, where the greenfield airport is slated to come up, are quoting the highest prices.

Bitten by the `smart city'' bug, rates have galloped to nearly Rs 2-3 crore per acre from Rs 70-90 lakh per acre just three to four months ago in these areas. The expectation is that the city will expand towards these areas on the back of the IT and tourism sectors.



Confederation of Real Estate Developers'' Association of India (Credai) Vizag chapter chairman B Raja Srinivas said, “Soon after bifurcation, investments initially flowed into Vijayawada and the neighbouring areas as it was touted as the new capital. But prices there have reached a saturation level and now the focus is turning to Vizag because of recent developments ­ especially the `smart city'' announcement.“

Concurring, Swathi Promoters managing director Ramesh Reddy said, “Three to four months ago, land was available for Rs 50 lakh per acre in the Anandapuram-Bhogap uram belt, but now the owners are demanding Rs 1 crore per acre.” However, he pointed out that prices of plots in these areas were not increasing as exorbitantly as bulk land prices.

“The prices of plots have increased by around 20% in the last 3-4 months in these areas, but are nowhere near the boom being witnessed in bulk land rates.” Another realtor, seeking anonymity, said, “While some of the farmers are holding onto their land hoping to get even higher rates, some of them have already sold their property and a major chunk of the land in these areas is already in the hands of brokers, who are trying to create an artificial boom hoping to cash in on the development of Vizag. It won’t be surprising if by now almost 70% of the prime land is in the hands of the brokers.”

Even the farmers, who are in possession of land, are now acting pricey. In fact, a marketing executive of a real estate firm said that they have been trying to acquire land from farmers in areas like Bhogapuram, which is full of mango and coconut plantations, but having immense difficulty in doing so as farmers are quoting exorbitant rates on expectation that land prices will shoot up further.

Explaining the phenomenon of bulk land prices going up much faster than plots, developer K S Narayana said: “Bulk land prices always increase faster than those of plots. The prices of plots will increase once construction activity begins in these areas.”

Comment : One of the 4 proposed smart cities in which the US has decided to invest is Vizag

Keyword Tags: Hyderabad News,Land in Vizag

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