Express press service
KARIMNAGAR: As the government signals its intention to go ahead with the development of the Vemulawada temple, land prices in the temple town have seen a sharp rise in recent days, especially in areas such as the road Jagtial, the Korutla road and the Nampalli mound.
Significantly, land on the outskirts of the temple town exceeded Rs 1 crore per acre. Expecting rapid development, real estate agents are offering up to twice the going rates for land. Earlier in the week, architect Anand Sai visited Vemulawada and discussed plans for the temple’s renovation. His visit stimulated demand for land, driving up prices on the open market.
A few months ago, the Minister of Municipal Administration, KT Rama Rao, announced that the towns of Sircilla and Vemulawada, about 12 km apart, would be developed as twin towns. Additionally, plans to build a hump area at Nampalli Railway Station under the Kothapalli – Manoharabad Railway project has boosted the demand for real estate. The hill of Nampalli is about three kilometers from the temple town.
Real estate agents are encouraging people to buy land, saying prices will skyrocket in the coming days once development work on the temple and town of Vemulawada begins. The government has already acquired about one acre of land for the Baddi Pochamma temple development and paid Rs 30,000 per square meter as compensation.
The government also compensated the 35 acres of land acquired to build a new temple tank after filling the old tank with gravel. This new reservoir is adjacent to the Sri Raja Rajeshwara Swamy temple in Vemulawada. According to the landowners, they received compensation at the rate of Rs 90 lakh per acre.