GUNTUR: The realty sector, which was down, is gradually regaining its shine in the APCRDA region and the Amaravati Capital Region. The increase in land prices in the APCRDA region is bringing good income for the registration department in recent months. In the past six months, the department has earned Rs 236 crore in revenue against the targeted Rs 209.50 crore in Guntur. This shows that the realty market has picked up as new ventures mushroom in Guntur city and its adjacent areas.
Some 37,909 papers were registered in the Guntur registrar’s office, bringing in revenue of Rs 236 crore. The Narasaraopeta registrar's office saw 51,902 papers registered with Rs 87.40 crore in revenue, and 18,113 papers registered in the Tenali registrar's office brought in a revenue of Rs 55.10 crore. The state government has issued orders for starting new sub-registrar offices in Tullur, Mandadam, Undavalli and Ananthavaram, which will ease the registration process and generate more revenue.
A realtor, D. Madhusudhan Rao, said the delay in starting the new capital of Amaravati created a slump in the Amaravati capital region and APCRDA region. “There was no alacrity till August and sentiment among the locals and the public was dull, but the opening of the Temporary Secretariat gave confidence to the public about the starting of Amaravati construction.”
AP Real Estate Development Association secretary G. Tirupathi Rao said people are purchasing plots, flats and land after the Temporary Secretariat has started functioning and the work for the capital in Amaravati has started. Recently, the APREDA received a good response to its property show and they are hopeful good days are ahead for realty sector.