The governor also announced ex-gratia of Rs.6 lakh each to the families of those who died in the police firing and Rs.50,000 for the injured besides free treatment.
Narasimhan, who reviewed the law and order situation in the wake of Wednesday's police firing and communal clashes, said compensation to those who lost property would be paid as per the norms.
"The governor appealed to all to maintain peace and tranquillity," said a statement released by his press secretary.
Three people were killed and eight injured in Sikh Chowni neighbourhood of Kishan Bagh in Cyberabad Wednesday when the Border Security Force (BSF) opened fire on a mob.
Police called the BSF for assistance after communal clashes broke out.