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.
Bollikunta village, which is two km away from the airport, has already turned into a bustling commercial hub with several educational institutions located on either side of the road. Here an acre of land costs not less than Rs 2 crore. Understandably, the farmers are a happy lot here as they expect an easy life ahead.M Rohit, a resident of Mamnoor, said that agricultural land prices doubled within a week after the announcement of the State government to develop the airport.