TRS meet helps raise rates
The price of per square yard has increased by leaps and bounds near Kongara Kolan.
Hyderabad: After the TRS’ public meeting in Kongara Kolan on September 2, the real estate price in the area has increased from Rs 5,000 to Rs 15,000. Builders claim that the location only a mile away from Wonderla and Adibatla aerospace hub became prominent only after the TRS meeting and has been attracting investments.
“The price of per square yard has increased by leaps and bounds near Kongara Kolan. The price per square yard was Rs 5,000 prior to the meeting and days after, the price jumped to Rs 15,000,” said real estate developer Narasimha Reddy. Even though the price has now stabilised, it may go up after the conclusion of the Lok Sabha polls, he added.
“The meeting show cased the area to millions of people who can own a small chunk of land at an affordable price. There were several registrations in two weeks time after the meeting and that has increased demand and the price surged within a month,” he added.