Rajahmundry: As the Chief Minister N. Chandrababu Naidu has finally announced officially on the floor of the Assembly to develop state capital around Vijayawada, the land value is expected to shoot up further causing hardships to those who intend to own a site and construct a house in Godavari districts. The land value in Godavari districts is very high as both the districts are located on either side of the perennial Godavari river and the soil if highly fertile for cultivation of crops. In the post-bifurcation of the state, the land value has gone up and the realtors and investors made good money.
At present, an acre land near Morampudi in Rajahmundry costs from one crore to three crores while it costs two crores to Rs five crores near Rajanagaram as both the places are having connectivity to the national highway. The realtors say that with the expected further rise in land value in Vijayawada, Guntur and their surrounding areas, people who intend to invest their money on land cannot afford such a high price and instead they prefer to do their business in surrounding areas of the upcoming capital like Eluru, Bhimavaram, Tadepalligudem in West Godavari and Amalapuram, Rajahmundry, Kakinada and other parts in East Godavari. This results in sudden and steep rise in land value in the above mentioned areas.
Experts say that land transactions will also go up further as people are apprehensive that any further delay in purchase and registration of the land may cost them dearly after some time while investors intend to adopt wait and watch policy as they are having high expectations for the land value to go up further.
Realtor Buddiga Srinivas said, "Soon after bifurcation of state, the land value has gone up tremendously in AP and with the announcement of new capital city, the value in and around it, will go beyond the reach of commoners."Moreover, the land usage had witnessed a drastic change in the recent past with a large number of farmers selling away their fertile lands for high price and settling down in urban areas doing business.
