Stink sinks realty prices

Written by | January 29, 2014 | 0

Hyderabad Jan 29: The stink from Durgam Cheruvu and the menace of mosquitoes has hit property prices in the posh colonies around the lake.

The owners of villas and flats in Nectar Gardens, Amar Cooperative Society and Vasantha Gardens to name a few, say that they are not getting market prices, leave alone a premium price for their water front properties.

Due to the apathy of agencies like the Greater Hyderabad Municipal Corporation, AP Industrial and Infrastructure Corporation, the Water Board and AP Tourism, the lake has become a cesspool of drainage water.

Projects costing nearly Rs 100 crore to divert sewerage from the lake,  construction of sewerage treatment plants upstream as well as downstream, clean the lake water, and provide boating and other tourism facilities are pending since months now.

“It is like living next to the Musi that has gained notoriety as a big open drain. The prestige tag attached to Hitec City has gone for a toss. Recently, some of our neighbours wanted to sell their property and move to Bengaluru. We were all shocked because there was no demand for the lake view property. And those who came forward offered only Rs 2,500 per sft of built-up area against the market price of Rs 5,500 to Rs 6,000 per sft. All thanks to the smell from Durgam Cheruvu,” said a property owner of Nectar Gardens who did not want to be named.

Filed in: Hyderabad

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