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Hyderabad News.Speculative investments based on GO111 relaxation rumors spur land rates in restricted Hyderabad villages
(Excl Ventures News.)Speculation that the GO could be lifted or eased by the government may have led to massive real estate transactions in the last few months in Gandipet, Chevella and other areas. GO 111villages fall in Moinabad, Shamshabad, Chevella and a few parts of Rajendranagar mandal as well.
Gandipet, Shankarpally, Maheswaram, Shamshabad, Qutbullapur, Ibrahimpatnam and Shadnagar registered the highest realty growth in the state with an increase of 70% to 120% revenue in 2018-19 when compared to the last financial year
Chevella witnessed 78% growth in gross revenue of the registration department. Similarly, Shamshabad recorded 72% growth. GO 111protects the catchment areas of twin reservoirs of Osmansagar and Himayatsagar and restrictions are imposed on construction and industrial activity in the area.
The ruling TRS had promised during the elections that it would scrap the GO which would pave for increased real estate activity.
Thakur Raj Kumar Singh of Human Rights and Consumer Protection Cell said that National Green Tribunal would take a decision after receiving a report from the high-power committee on the GO. “We are waiting for the report which will be filed with the help of NGRI. Scrapping or relaxation of GO 111 will have an impact on the protection of twin reservoirs,” he said.
Another petition is already pending in the high court since 2007. There are around 86 villages notified in the GO 111area. “ We have identified 12,500 illegal constructions for demolition but nothing happens on the ground,” Singh added
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