Hyderabad: There has been a steep rise in registration of flats in apartments in Guntur city, Mangalgiri and Tadepalli areas of the AP capital region.
While plot and land registrations have come down, apartments are high in demand. The Guntur registrar office achieved its target of Rs 204.15 crore stamp revenue owing to the flat registrations, despite fall in land registration.
Guntur district registrar K. Srinivasa Rao said, “We have more number of registrations of flats in urban areas. Apart from Vizag, Guntur is one of the top districts with more stamps and registration revenue.”
“Lot of apartments have come up in Guntur and Mangaligiri where people are buying flats and registering them,” said Mr Rao.
Realtor A.B. Kumar said, “People are not buying land as they want to wait and watch. And they are not sure how many years it will take to develop the capital area. So more investments are going into flats.”
