Swanky cars, bikes, plush malls become commonplace; land prices skyrocket
The socio-economic conditions in Guntur and Vijayawada cities and adjacent areas have undergone a sea change in the past year due to the announcement of the new AP capital in Tullur.
Guntur: The socio-economic conditions in Guntur and Vijayawada cities and adjacent areas have undergone a sea change in the past year due to the announcement of the new AP capital in Tullur. Land values have abnormally increased in Guntur, Vijayawada cities, Mangalagiri town and in 29 villages of the capital region, which has changed the lifestyle of the public with swanky cars and bikes increasingly being seen on the dusty roads; and small colonies giving way to posh apartments. Various world-class showrooms have opened up here including car, bikes, jewellery and electronics showrooms.
Big retail chain markets are expanding and the hospitality sector too is increasing its stake in the area. Tullur and adjacent areas are turning into mini cities thanks to the growing markets and increasing land values. An acre of land here is currently priced between Rs1.10 crore and Rs 1.75 crore depending on the area, from the earlier Rs 30 lakh to Rs 40 lakh. There are around 22,500 farmers in the capital region and according to reports, half of them have sold 50 per cent of their land to others and the rest to the CRDA for the new capital establishment.
The lives of these farmers have changed drastically for the better. The government has imposed a ban on real estate development in the capital region which has created a shortage of land for domestic purposes.
This has forced people to live in apartments. Nearly 500 apartments have come up on the either side of the Vijayawada-Chennai national highway and nearly 200 apartments have been built in Undavalli, Mangalagiri and other capital region areas.
The Brodipeta and Arundalpeta areas of Guntur city have become like Banjara Hills/Jubilee Hills of Hyderabad with land prices at Rs 1.05 lakh to Rs 2 lakh per square yard. A farmer, Mr K. Appa Rao, of Velagapudi, said that he has purchased a car, bikes and even a horse, thanks to his new-found wealth.
( Source : dc )
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