Amaravati Realty in extreme joy!

Interview with the AP Credai president
Ramana Rao

The construction sector lost a lot in five years.
Realty industry in whirlwind of problems
Positive atmosphere with the formation of the new government
Amaravati Realty towards development!
Better to invest in those areas.
Total Credai chapters in AP.. 20

King Johnson Koyyada, 9030034591 : Credai Andhra Pradesh President Ramana Rao expressed hope that when the NDA alliance came to power in AP, a positive mood was created in Amaravati. He recently spoke exclusively to Real Estate Guru and revealed many interesting things related to the real sector. He cited the negligence of the previous government. He explained the steps to be taken by the newly formed government to promote the real estate sector. More in his words in this article. Excerpts from the interview:

A positive atmosphere has been created in AP since a month before the elections. Expectations have increased that the TDP coalition will definitely win this time. Since then, there have been movements in the real estate market. After the results came out, the actual activities started. There is no doubt that change is driving the real estate sector. Because, in the total turnover made by the construction sector, about forty percent, the government collects in the form of taxes. Moreover, 250 industries depend on this sector. It is known that it provides employment opportunities for a large percentage of people. However, this sector has been completely neglected in the last five years. The builders faced many difficulties. I think the situation will improve now that the government has changed.

Fallen prices are up again!

In the last five years, the prices of plots in the surrounding areas of Amaravati have fallen drastically. Due to this, both real estate companies and people who got plots were disappointed. From 2014 to 2019, in the VIT area, the yard price was Rs 25000. Such fell to five or six thousand. There is a possibility that the current price will go back to the old price in the backdrop of a changed government. After a year, construction activities will gain momentum.

* In the past, when TDP was in power, it built some quarters in areas like Mandam and Uddandarayunipalem near Seed Capital. About 80 to 90 percent of the construction work undertaken to accommodate judges, MLAs, MLCs, IAS, and IPS officers has been completed. They were not completed by the previous government. If these are completed, there is scope for increasing activity in those areas.

There are gated communities…

The Vijayawada real estate market has remained stable in the last five years. Those who thought to set up a permanent residence bought flats in this area. However, the momentum it had during the TDP’s regime was not seen in the last five years. In areas like Kanur and Poranki on Bandaru Road, double-bedroom flats were sold for fifty to sixty lakhs. Flats were available for fifty lakhs till Kankipadu. All the way to Gannavaram Airport on Eluru Road, flats were being sold here and there for four thousand per square feet. Gated community projects and luxury villas are being constructed from Kesaripalli, Poranki to Nidamanur, Vijayawada, and nearby areas.

New Govt must resolve these!

The previous government has not paid much attention to the problems faced by the construction sector in the last five years. There is no focus on their solution. The sand policy, which was under the previous TDP government, should be revived again.

TDR bonds should be given to those who have lost land on master-plan roads. Relaxation should be provided in setbacks throughout the entire floor area.

The previous government prepared a new road development plan. Otherwise, it is not fully implemented. As a result, TDR bonds were not sanctioned. That’s why many people were reluctant to give land in expensive areas. There were irregularities in the issuance of TDR bonds in Tanuku, and about one thousand files were not cleared. In this order, what the new government should do is remove the road development plan and implement the old plan.

The decision to levy an impact fee on commercial complexes constructed in the area of sixty feet of road should be withdrawn.

In the past, the demand to reduce open space charges from 14 percent to 7 percent in non-layouts was unsuccessful. We hope that at least the new government will take a positive decision on our request.

Nala charges are 2 percent in urban areas and 3 percent in rural areas. This was increased to five percent by the previous government. These charges should be decreased to three percent.

In an area like Mumbai, reducing stamp duty and registrations has brought considerable revenue to the government there. Keeping in mind the losses incurred in the last five years, the new government should reduce the stamp duty and registration charges. Due to this, the number of registrations will increase, and the government will get more income.

The vacant land tax of fifty percent should be reduced.

Facilitation of trade should be implemented in permits. For this, a single-window system should be implemented, and a system for collecting all the fees should be introduced. This saves time for the builders. Walking around the government offices will be avoided.

Master plan roads should be developed in Amaravati or Mangalagiri. Facilities like electricity and drainage should be included.

The work on residential and commercial buildings constructed by the government should be handed over to private builders. If government development work is handed over to experienced developers, quality work will be completed on time.

Invest Here

For those who want to invest in plots in AP, the Seed Capital area of Amaravati is a good area. Remember that if you buy there, you can get good appreciation in the coming days.

Brief about the President

Credai Andhra Pradesh President Ramana Rao has been in the construction industry since 1992. The names of his companies are Siri Developers and R3 Promoters, and he has undertaken many projects. Around 35 projects have been constructed so far. At present, 95 flats are being constructed on an area of one and a half acres in Tadepalli, and 170 flats are being constructed on 2 acres in Edupugallu. A hospital is also being built.

In Credai AP.

There are about twenty chapters in Credai, Andhra Pradesh. It has 1,300 members. Like Srikakulam, Vijayanagaram, Narsipatnam, Tuni, Anakapalli, Rajahmundry, Kakinada, Bhimavaram, Eluru, Vijayawada, Machilipatnam, Guntur, Tirupati, Ongole, Nellore, Nandyala, Kurnool, Kadapa, and Anantapuram There are chapters in the regions. Excluding the capital area, the real estate sector is fine in all other chapters.