Craze for Mancherial Properties

A square yard costs Rs 15,000
Prices of flats vary from Rs 30 lakh to Rs 35 lakh
Independent houses can be bought for Rs 40 lakh

Rs. 45 lakhs worth sales in D-Mart in just one day, is a record in the country. This has proved the Mancherial potentiality. CREDAI Mancherial Chairman Gurram Narasimha Reddy said that Mancherial occupied special place in the Telangana realty market.

Sharing the speciality of Mancherial from real estate perspective with Real Estate Guru, he said the significance of the district has improved with the presence of Singareni Collieries Company Limited and thermal power plant. The railway lines that links the North with the South passes through the town. There are many cement factories located here. Moreover, those who live in Chhattisgarh, Madhya Pradesh, Odisha, Maharashtra visit Mancherial for shopping and medical purposes. They buy fertilises, seeds and other essential commodities from here.

In fact, 30-40 per cent of SCCL employees (50,000) prefer to live in Mancherial. Godavari River assures assured drinking water. Moreover, the Yellampalli project is located just five km from Mancherial. Because of these reasons, Mancherial emerged as a major business centre. Shopping malls, hotels, corporate gold showrooms were present. The D-Mart, Reliance, Heritage, More, Vishaal super markets are located here. Because of these factors, the realty sector enjoys good demand here.

A square yard costs Rs 15,000 in Mancherial

New layouts are being developed in the newly-formed Naspur municipality. Construction of apartments is going on there. In another municipal town, Kyathanpally, apartment construction is going on. In Luxettipet road, realtors have plans to develop new layouts. In the next two years, many more layouts are going to come here. In the newly developed DTCP layouts, one has to spend Rs 15000 per square yard. To buy flats, one has to spend Rs 3000 to Rs 3500 per sft. Those who want to buy individual houses, one should spend Rs 40 lakh. Regarding the commercial plots, one should spend Rs 1.5 lakh per square yard. For sites located near bus stop and the main road the cost is over Rs 1 lakh per square yard.

In 2008, soon after completing his BE (civil), he joined Venkata Sai Builders and Developers in 2008. He claims to have built over eight apartment complexes, 40 duplex villa projects and some individual houses. There were over 100 members in CREDAI Mancherial branch. They follow the code of conduct and execute projects qualitatively. The realty sector, after the initial jolt due to Covid, recovered and the sales are highly encouraging.