After months of uncertainty after bifurcation of the state, the realty scene in Telangana has started showing signs of some revival with the current action taking place in Yadagirigutta, Nalgonda district. With the announcement by chief minister KCR after his visit to the Sri Lakshmi Narasimha Swamy temple at Yadagirigutta in October that his government would be transforming the temple town into a key religious destination just like what TTD has done for Tirumala, sources say that land prices has skyrocketed in more than 10 villages around Yadagirigutta.
Before the government acquires more than 1,300 acres for the development plans, agents have stepped into encash the boom. The land rates have reportedly skyrocketed to Rs 30 lakh per acre from a sum of Rs five lakh in few villages while housing plot rates have also increased from Rs 300 per sq yard to Rs 2,000.
Although business is looking brisk with increased land registrations, the flip side is that the revenue and endowment departments are yet to finalize any development plans given the fact that anything would be done after finalizing plans based on Vaastu and Aagama Sastra.