- 40 to 100% increase in land prices in many places
A New Josh came into the realm of real estate with the High Court ruling that the AP could not move the capital from Amravati and that development work in Amravati should be completed within the stipulated time. Although the government has not yet taken any action in this regard, the real estate sector has gained momentum in many places. This is evidenced by the fact that in many areas land prices have risen by 40 per cent to 100 per cent.
With the declaration of Amravati as the capital of AP after the partition of the state the real land there increased exponentially. Lands are being sold at unprecedented prices. At one stage the real business went beyond Hyderabad. However, with the announcement of the three capitals after the YSRCP government came to power, the real estate sector in Amravati plummeted. Since then there has been a dearth of buyers except those who sell the land. Sell them to those who have the money urgently .. Some take the risk and buy them. Except for such transactions.. no real transactions took place. However, the recent High Court verdict in favor of Amravati has given confidence to farmers and investors. As a result, land prices are rising steadily.
