Hyderabad: After UNESCO declaring the historical Ramappa Temple as a World Heritage Site, the prices of lands around the temple have shot up significantly.
The prices around the temple witnessed 100% increase within a week. The area has suddenly shot to prominence after UNESCO’s declaration.
It is said that the area will witness rapid development in the next few months and accordingly the property prices will increase significantly.
The agricultural lands around the temples too witnessed an increase in its prices as those lands which were being sold between Rs. 20 lacs to Rs. 25 lacs per acre earlier is now being sold at Rs. 45 lakh per acre. The prices are likely to be increased further during the next few months.
The property prices along the 6 km corridor near the temple between Palampet and Venkatapur doubled within a week. A record number of land transactions have also recorded recently.
The interest of the real state companies has increased in the areas around the temple as a huge number of residential and commercial ventures are expected to come up soon.
Similarly, five-star hotels and tourist recreational centers are also likely to come up in near future.