GO 111 gone: Land rates up, but registrations dip

Value Might Rise Further: Landowners

- Ujwal.Bommakanti

Hyderabad: Over the last one month, since GO 69 was released on April 12, villages along the prime Shankarpally-Hyderabad highway stretch have seen a marginal decline in land registrations.

The decline, according to revenue officials, is due to the removal of restrictions put in place by GO 111, after the release of the new GO 69.

Speaking to TOI, deputy tahsildar Satish Kumar said. that there have been only 55 registrations in Janwada town one of the prime areas during April, which is marginally lesser than in previous months. "We have increased the book value of land by 30% around three months ago. Initially, the registrations have picked up and later dropped eventually. The landowners are not looking to cash in on their immovable assets with a hope that their land value could increase further," Kumar told TOI.

Meanwhile, the local realtors attribute this drop to three reasons - the main reason from the buyers' side is to wait for the new set of regulations from the chief secretary-led committee as mentioned in GO 69. The second is the potential increase in the market value of the land once the construction permits are issued and the third one is speculation over whether there would be an upcoming legal battle that might stay GO 69.