Union Minister G Kishan Reddy thanked Prime Minister Narendra Modi and Union Surface Transport Minister Nitin Gadkari for giving green signal to develop the APPA junction to Manneguda road into a four-lane road. People should note that the conversion of the existing road into a four-lane road would improve the connectivity to the national highway but would not bring any boom to the real estate in the region.
Widening of the road would not make wonders happen overnight. What would be the fallout of the new road? At the most, the road would facilitate easy commuting to destinations. But wonders are not going to happen so soon. There will be some who would try to hike the land costs taking advantage of the sanctioned road. People should be careful not to walk into their trap. People are advised against blindly buying such plots. For example let us take Nagpur national highway, which is awesome. The prices of real estate in the adjacent areas of the highway for some distance beyond Medchal have increased only up to a certain extent.
There was no uniform escalation of land values along the highway up to Adilabad. The prices did not escalate much as no big business organisations with high employment potential have been set up there. Overnight, no magic is going to happen in realty sector with the sanction of a four-lane road from APPA junction and Manneguda at a cost of Rs 928 crore.
If organisations with good employment potential come up in Chevella or Vikarabad, the real estate prices in those areas would appreciate, otherwise just because of a four-lane road project, the prices would not appreciate. If anyone tries to exploit the situation and increase real estate prices taking advantage of the sanction of the four-lane road, the prospective buyers are better not buy property there.
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