Guntur: The realty boom, which till now was limited to Guntur city, Mangalagiri, Amaravati and other areas, has now spread to Chilakaluripeta, Macharla, Vinukonda and adjacent areas in view of the Sivaramakrishnan Committee report on the new capital.
People, including government employees, are aggressively investing in land hoping for good future profits. Some are even using their provident fund deposits.
According to the ZP officials, in the last few months, around 2,500 ZP employees have sought their PF amounts. Besides ZP, employees of revenue and other departments are also making use of their PF amounts for purchasing land.
D. Venkateswarlu working in a Zilla Parishad, said that plots/land were unavailable in Guntur city, so they were rushing to other areas. The district administration had stopped sanction of lands for welfare schemes like housing etc. and has also stopped conversion of land in the past few weeks. The VGTMUDA has also stopped giving permissions to new layouts in view of the new capital selection. This has further increased the demand for layout land, earning good income to realtors.
Realtors too shifted their focus to Chilakaluripeta, Vinukonda and adjacent areas. Realtor K. Phanibhushan said that Chilakaluripeta-Vinukonda region has become the second option for the buyers. Many people are interested to buy plot in these places, he added.
