Go 111 Land Turning Out to be a Sought-After Real Estate Hub

By : 360 Realtors

29 October, 2021

In Hyderabad, a major segment of Moinabad might come under the ‘no construction’ norm as per GO 111. However, the last couple of years have witnessed this area draw the attention of investors. Incidentally, this area is located just 40 minutes away from the financial district of the city. According to the market prices, land rates have increased by more than 50% to reach INR 2 crore per acre. This happens to be the average price of land. However, in areas such as Shankerpally, the land value is even higher, ranging between INR 3 crore and INR 5 crore per acre. A significant part of land comes under GO 111.

Presently, the villages are preparing boards saying “plots for sale” in this part of the city. Besides, there are under-construction warehouses, farmhouses, and villas. The locals also revealed that after the pandemic, activities in the real estate sector have picked up pace in this zone. Particularly, the richer residents of Hyderabad who have been looking forward to purchase larger homes amidst nature are willing to purchase these properties. Incidentally, these homes are located far away from the confines of the city.

In the last one year, one of the leading real estate developers in the area has closed around 100 deals in Moinabad. However, they are unfazed on questions related to the legality of these dealings. They hold the opinion that every person is purchasing properties here and the village bylanes are getting crowded by cars visiting luxury homes. Many people believe that the restrictive norms are likely to be dissolved. In case the GO 111 guidelines are scrapped, people purchasing land here are likely to benefit.

However, locals hold the opinion that the newcomers are likely to pollute the villages. They are also happy with the government, which is not permitting businesses to set up shop in the zone.