After CM Chandrababu Naidu’s talk, Donakonda land prices go sky high

Land, previously, costing Rs 12 lakh to Rs 15 lakh in Donakonda, about 120 km from Vijayawada and 90 km from district headquarters Ongole, is now being sold at Rs 25 lakh to Rs 35 lakh per acre.

Premier plots on the corners and facing the road cost up to Rs 46 lakh. The buyers are mainly from Hyderabad, Guntur, Krishna, Kadapa and Kurnool districts. K. Srinivas Reddy, a realtor in Donakonda, said that a buyer from Hyderabad purchased half -an-acre corner plot for Rs 23 lakh in Donakonda three days ago.

“Investors feel that the land will be developed as real estate ventures,” Mr Srinivas Reddy said.

At nearby Kurichedu, J. Pangaluru, Darsi, Parachuru and Santhamagaluru mandals, the land price has gone up to Rs 15 lakh to Rs 20 lakh per acre, from Rs 8 lakh to Rs 12 lakh.

P. Venkta Reddy, a farmer, said, “The land yields 25 bags to 30 bags per acre and is irrigated by the Nagarjunasagar right canal. Farmers are selling an acre or half-an-acre in Tullur, Amaravati and surrounding mandals of Guntur district and purchasing two to three acres here. As soon they get final payment at home, they will register their land in Prakasam district.”

T. Srinivasa Rao, a document writer, said, “The buyers are paying 30 to 40 per cent as advance and entering into agreements. While industrialists are purchasing land in Tullur, those farmers are purchasing land in Donakonda.”