Hyderabad: It took two years after the formation of Telangana for registrations of lands, flats and houses to see a boost. Following development activities and projects announced by the government, the real estate has seen a boom across the surrounding localities of proposed projects.
Compared with revenue earnings in the financial year 2014-15, the government’s revenues increased by 22.36 per cent in 2015-16. The number of registrations of lands, flats, plots and houses also increased by 26.92 per cent in 2015-16.
In 2014-15, about 8,32,456 properties were registered with sub-registrars’ offices across the state and the government received revenues of Rs 2,531.07 crore. For the first time, as many as 10,56,525 properties were registered in 2015-16 and the government received Rs 3,097.11 crore of revenue through registrations. This despite the rise in land values.
Due to the heavy rush in several sub-registrar offices in GHMC limits, the government on a pilot basis implemented a shift-wise registration system in the sub-registrar’s office at Bowenpally and Marredpally with revised timings of 8 am to 9.30 pm from August 17, 2015.
The government allowed registering lands from any sub-registrar’s office across the state against the particular registration office. Telangana sub-registrars’ association president R, Srinivasa Rao said the promises made by the government to builders led to an increase in sales of lands.
“Before bifurcation of AP, nearly 30 registrations were being witnessed per day at Kukatpally sub-registrar’s office where I work. It increased to 50 to 65 in 2015 and now the boom is continuing,” he said.
Hyderabad district registrar S. Ashok said that 2015-16 had recorded the highest revenue in the last four years. “We are planning to increase the target for the current financial year. Demand in Mahbubnagar district has increased along the Bengaluru National Highway up to Pebbair, and registrations increased in Nalgonda district due to Yadadri development and other projects,” he said.
Big industry plans give realty boost
The government’s proposed projects including Pharma City, ITIR, Indus-trial Parks, Strategic Road Development Plan and other development activities are behind the reality boom.
The realty sector in and around the city has shown a silent upward trend with Rs 415.83 crore revenue through land registrations in 2015-16 over the previous year. Property registrations on the city’s outskirts picked up momentum in 2015 with a Rs 2178.54 crore revenue from 3.19 lakh property registrations, against Rs 1762.71 crore from 2.55 lakh registrations in 2014.
The boom in real estate is mostly because of the state government implementing several development works at the city’s outskirts including the Yadadri temple development works, ITIR project, Pharma City, industrial corridors, SRDP and other projects.
The announcement of the Yadadri development project and the “Hyderabad-Warangal” industrial corridor by the Chief Minister led to a rise in registrations at Uppal, Boduppal, Narapally, Medipally and Ghatkesar.
Similarly, the proposed Pharma City project at Mucherla has had a positive impact on real estate at Maheswaram and Ibrahimpatnam mandals in Ranga Reddy district and Kodangal mandal’s surrounding areas in Mahbubnagar.
The Yadadri development works and Rachakonda water body led to a boom in Nalgonda district. Proposed food parks in Mahbubnagar, Nizamabad and Khammam districts have impacted land values and registrations.
