Cyberabad Like Green City Could be Developed on GO 111 Land in Hyderabad
The state government of Telangana ordered the scrapping of GO 111 a few weeks ago, the outcome of this order will mean that approximately 1.32 lakh acres of land will be added within Hyderabad’s city limits. Once the GO 111 restrictions are lifted, real-estate developers and home buyers will throng the area to begin development, invest in property on these lands as it is a very desirable location. However, realty developers & experts have differing views on the development which is likely to affect 84 villages which lie in the catchment areas of the twin lakes – Osman Sagar & Himayat Sagar.
According to Hari Babu Gaddipati, Advisor at National Real Estate Development Council (NAREDCO), the Chief Minister of Telangana, K. Chandrasekhar Rao wants to make a green city in Hyderabad, for this, the state government has initiated on of the largest afforestation programmes in the world – Haritha Haram. The state government of Telangana will be one of the largest beneficiaries of this deal as it owns more than 30,000 acres of the 1.3 lakh acres of land to be freed from GO 111 restrictions.
The average selling price for an acre in the area is estimated to be ₹3 crores, the government expects to collect around ₹1 lakh crores from the sale of its land in the area previously under GO 111. This will also open up an opportunity for the state government to build another large city. Hyderabad & Secunderabad were known as the twin cities earlier until Cyberabad was built as a new city. The area which will be freed from the restrictions of GO 111 are located towards the south-west of Hyderabad and thanks to the existence of the 2 lakes, it can be developed as a completely green city.
Estimated GO 111 Land Area Data
- Total Land Area – 1,32,000 acres
- Government Owned Land – 30,000 acres
- Land Occupied by Illegal Constructions – 30,000 acres
- Land for Other Purposes – 60,000 acres
- Land Remaining for Real-Estate Development – 12,000 acres
There are several challenges that the state govt. of Telangana must address before continuing with real-estate development planning on GO 111 land. NAREDCO Advisor Hari Babu said “as per my knowledge, around 30 per cent of agricultural land of total 1.32 lakh acres is already converted into non-agricultural land in these villages. There are many cases pending at National Green Tribunal (NGT). It may take few years to clear all these cases at NGT. Also, the preparation of a new master plan would take at least a couple of years.”
He also said that nearly 50% of the land is owned by the state govt. or is occupied by irregular/illegal constructions. Non-agricultural land may not become a part of the property market in these areas. Thus, he concludes that the state govt. will have only 12,000 acres of land for construction activities out of the total 1.32 lakh acres of land. He added, “the demand for housing in West Hyderabad may come down with the upcoming layouts in the villages under GO 111. There shall not be any impact on other regions. I anticipate a price correction only in the Western part of the real estate market,” when asked if there is any possibility of a decline of property prices.
Hyderabad’s average requirement on a yearly basis for residential units stands at 30,000. At present, there are more than 2.5 lakh units under construction in Hyderabad, of which nearly 1.1 lakh units are located in the western reaches of the city, close to the IT hub of Hyderabad. While there is an excess supply of residential units, the demand is also expected to rise continuously and it is expected that property prices will remain steady for the next 2-3 years.