Land prices increased in Amaravati to a staggering Rs 5 crore to Rs 15 crore per acre
_3.jpg "Amaravati sees spike in land price")
Land prices increased in Amaravati to a staggering Rs 5 crore to Rs 15 crore per acre
Guntur: With Amaravati being accorded heritage status and the formation of the new capital in the adjacent Tullur mandal has increased land prices in Amaravati to a staggering Rs 5 crore to Rs 15 crore per acre in prime areas.
The land in Amaravati would be safe due to its heritage status and since it is adjacent to the new capital, wealthy people, industrialists, realtors and politicians are making a beeline for it. Amaravati is situated on the banks of the Krishna River at 15-km distance from the new capital region.
With land pooling being announced, the people were forced to think twice about purchases in the capital region. The announcement of Amaravati as a heritage city changed things and people began to look at Amaravati in search of land.
Land transactions have increased over the past few days as nearly 30 to 50 papers were coming for registration to the Amaravati sub-registrar office. A realtor, N. Muralikrishna, said the government will develop Amaravati as a heritage city and Tullur and Amaravati would become twin cities in the future like Secunderabad and Hyderabad.
He said that land prices were Rs 80 lakh to Rs 2.5 crore per acre, but now the same has increased to Rs 5 crore to Rs 15 crore per acre. One source said buying land is too expensive in Amaravati that is why people are going to Lingapuram, Attaluru and other nearby villages where prices are low compared to Amaravati, the region saw a downward slide and this further affected the realty sector.
Prices largely increased in the villages of the capital region including Tullur and the government decided to collect 30,000 acres under land pooling and forcing the public to think twice about land purchases in the new capital. Later the announcement of Amaravati as a heritage city changed things and people start to look at Amaravati in search of land.
According to the registration department, land transactions have increased for the past few days as nearly 30 to 50 papers were coming for registration to the Amaravati sub registrar office.
A realtor, N Muralikrishna said that the heritage status has changed things for the past few days as people are thinking Amaravati is s safe place to live as it is near the new capital.
He further mentioned that as the government will develop Amaravati as a heritage city, Tullur and Amaravati would become twin cities in the future like Secunderabad Hyderabad.
He added that earlier land price was Rs 80 lakh to Rs 2.5 crore per acre according to the area but now the same has increased to Rs 5 crore to Rs 15 crore per acre.
S. Venkateswarlu said buying land is too expensive for the common man and that is why people are going to Lingapuram, Attaluru and other nearby villages where prices are low compared to Amaravati.
( Source : dc )
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