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Try and wrap your head around this because we can't.
The GO 111 zone and its surroundings, situated on the outskirts of Hyderabad is a hot real estate destination now.
A quick research reveals that land prices have gone up by over 50% to touch INR 2 crore per acre on an average in the restricted zone. In Shankerpally, mostly falling under the GO 111 zone, the rates are even higher - ranging from INR 3 to INR 5 crore per acre.The GO-111 is a precautionary directive issued in 1996 by the government that prohibits any new construction, irrespective of its nature, to protect the two reservoirs responsible for keeping Hyderabad hydrated.
Since this is the main potable water supply source of the megapolis, development up to a 10 kilometre periphery from the lakes could contaminate this natural water supply forever, resulting in a disaster of epic proportions.
Development Update
When Times Group reporters travelled through Moinabad and Shankerpally recently, they found ‘plots for sale’ boards running amok across the villages, while under-construction farmhouses, warehouses and villas were being completed with careless abandon.
“Everybody is buying land here. In fact, the village by lanes get clogged over the weekend with people either driving to their homes in luxury cars, or visiting a prospective property,” a broker told Times of India.
Ignorance Is Bliss
Local realtors, closing up to 100 deals monthly openly comment that the lack of monitoring by authorities, coupled with limited awareness about GO 111 among buyers, are the forces driving the residential market here.
“Now with land in the core city becoming very expensive, plots in Moinabad and Shankerpally are selling like hot cake. Many mid-segment realtors tell their clients that 10% construction is allowed even on GO 111 area and mislead them,” quoted another consultant.
Local farmers now believe that the GO 111 will be scrapped soon.
🤷♀️ - us.