Wednesday, August 16, 2023

Telangana government plan to develop Mamnoor airport triggers realty boom

Warangal: The State government’s recent decision to revive and develop the defunct Nizam-era Mamnoor airport by allocating 200 acres to the Airport Authority of India (AAI) has triggered a real estate boom in the surrounding villages here. Agriculture land prices have taken wings as realtors are scouting for land to develop housing ventures and build high-rise apartments.

Developers are approaching both the AAI authorities and Greater Warangal Municipal Corporation (GWMC) for permission for residential and commercial complexes. Warangal, the capital city of the Kakatiya dynasty and known for its architectural grandeur and cultural heritage, has become the second largest city after Hyderabad in the State after the formation of Telangana. Well connected by road and rail network, the city has potential to become a commercial hub and the Mamnoor airport will play a considerable role in its development.

Farmers in the villages surrounding the airport have raised the price of an acre of land to Rs 2 crore after the government’s announcement to develop the airport. An acre of agricultural land here commanded a price of Rs 1 crore before that.

For instance, farmers of Nakkalapally village were not interested in selling their agricultural land. Now, with the land boom setting in, they are ready to part with their agricultural land. The development has come as a boon for the farmers who did not make enough to make both ends meet by toiling in the fields throughout the year. Now, they can lead a decent life even if they sell an acre of their farmland.

16/08/2023  U Mahesh/New Indian Express

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