Hyderabad: One swallow does not make a summer. But a single transaction of a prime land in the city has soared hope in the financially parched soul of the state government.
A recent land transaction in Hyderabad, which has boosted the confidence of the state government, was recorded when a private property, measuring 1,837 square yards in Jubilee Hills, was purchased for a record price of Rs 41.3 crore, reflecting the start of another realty boom.
The unidentified buyer, who purchased the plot for the record sum, is purportedly the owner of a pharma company, who paid Rs 2.27 crore stamp duty and Rs 20 lakh towards registration fees to the government on January 28. Realtors say that this is “an expensive deal” for a plot of this size in these times.
The government is now hoping that it will now surely be able to mop up nearly Rs 15,000 crore through sale of prime government land parcels on the city outskirts this year. The state government’s plans to sell off lands…