Anantapur: Land prices are going up in border area of Anantapur district following speedy works of the KIA motors near Penukonda on NH-44 road. Several premium hotel managements purchased lands to set up star hotels closer to the proposed KIA unit on the National Highway. As already the levelling works are under process with hundreds of machinery and vehicles, the KIA motors has also set up temporary offices and hope to begin manufacturing of cars by next year.
Further, recent announcement by the South Korea based companies to establish ancillary units connecting to the KIA cars manufacturing unit being set up in more than 600 acres of land near Erramanchi in Penukonda mandal on NH-44 road closer to International Airport of Devanahalli in Karnataka. Though, previously thousands of acres were procured in the name of establishing industries of various sectors during the Congress regime, most of them were spiked out without progress. For instance, at least 10,000 acres of land allotted to the Lepakshi Knowledge Hub near Kodikonda checkpost on state borders is lying vacant following large scale of irregularities. The land is in legal disputes.
An entreprenuer from Hindupur K. Somasekhar Reddysaid his team purchased land to establish a star-hotel closer to KIA motors unit. “We are planning to establish the hotel at a right time when the unit gets launched at Penukonda,” he said and added that several other hoteliers also procured land for the same.
The KIA motors has has an impact on land prices till Karnataka borders. Srinivasulu, a landowner from Obulapuram said he wanted to dispose land the cheaper prices one year ago. “But, the prices are going up due to KIA motors which is few kilometres away from my lands,” he recalled.
