Realty Boom in Amaravati

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.

Demand is high in Venkatapalam, Kishtayyapalem and Mandadam villages due to National Highway 16. Also in Rayapudi, Nelapadu, Shakhamuru, Tulluru and Velagapudi the real sector has gained momentum. Here there is an increase of 50 to 60 percent in land prices. However, prices are still 30 to 50 percent lower than in 2018. Before the High Court verdict, the square yard in these villages was between Rs 7,000 and Rs 10,000. ‘The High Court verdict has brought good faith among farmers and investors. However, some people think that it is better to wait until the APCRDA starts work, ‘he explained. Nelapadu, Rayapudi, Shakhamuru, Velagapudi villages, the demand is good .. The price is said to be between Rs 12000 to Rs. Rs 18,000.