- ‘Real’ Wealth near the presence of Govinda
- Land in Tirupati today is a financial power for tomorrow.
Tirupati, the world-renowned spiritual hub, is rapidly developing every day. In the newly formed Andhra Pradesh, Tirupati has become an educational center with the highest number of universities. With the blessings of Lord Venkateswara, this city has transformed beautifully with greenery and new roads. Indian nationals from around the world often show interest in residing here, even if for a short period. As a result, Tirupati has become one of the fastest-growing cities in the country. So, how is the real estate sector in Tirupati? And what are the current property prices?
After the new government came into power in Andhra Pradesh, announcements have mainly focused on Amaravati and Visakhapatnam, with several large companies also setting up their bases there. At the same time, plans are being made behind the scenes for the development of Tirupati. Once the government officially announces these plans, the real estate business in Tirupati is expected to gain momentum. Residential plots in Tirupati, which will compete with cities like Chennai, Bengaluru, and Hyderabad, are becoming increasingly valuable.
Currently, in areas like the Air Bypass Road, the price per plot (measured by Sq yard or four-square-yard plot) has reached up to Rs 10 lakhs. Even in peripheral areas, the price for TUDA-approved plots is more than Rs 1 lakh per square yard. Those unable to afford these prices are going to areas like Yerpedu and Sri Kalahasti to buy land, with some even heading towards Puttur on the Chennai route. Experts say that prices could increase by another 10% after Sankranti.
During the previous TDP government from 2014-19, efforts were made to establish a financial hub at Settipalli, located between Renigunta and Tirupati. However, after the change of government, this initiative was put on hold. Currently, the government has resumed efforts in this regard. The government is working behind the scenes to develop land under the TUDA (Tirupati Urban Development Authority) and set up the financial hub. Senior officials are in talks with farmers, and the work will be carried out using the land sharing method. Eventually, land will be allocated to large companies.
In the past, a few electronic companies were established near the airport. The government is now in talks to bring more companies to the area.
The government is holding discussions with company heads to establish large industries along the Yerpedu-Venkata Giri road. Officials say that these discussions will yield results soon.
Actions have begun to create another massive flyover as a gem for Tirupati. The Garuda Varadhi flyover is already open to devotees. A new six-lane flyover will be constructed along the 17-kilometre stretch from C. Mallavaram near Chandragiri to Tukivakam near Renigunta on the 200-foot Bengaluru Bypass Road. The National Highways Authority has started the work and has issued a notification.
Initially, markings have been made to develop the service road underneath, and earth filling work will begin soon. Subsequently, work on the overpass will follow. This project is expected to bring a new charm to Tirupati. Once these works are completed, the city’s landscape is expected to change. According to realtors, if one cannot buy houses or plots in Tirupati now, they will have to pay even higher prices in the future.
