AP CM Chandrababu Naidu stops bookings as realtors rush to buy land

Hyderabad: Following a mad rush to purchase lands in Krishna and Guntur districts where the new capital is expected to come up, the AP government has asked revenue officials to stop all the land registrations.

After Chief Minister N. Chandrababu Naidu had announced that the new capital would come up between Vijayawada and Guntur, the land value in the area had shot up and many had started purchasing land, expecting to sell it at a higher price to the government when the construction of the capital city started.

To ensure that it did not have to pay higher prices, the government has issued orders to stop registrations for time being. Land transactions have also picked up in other cities and sources say that the buyers are showing a much lower price while registering, leading to the government losing a lot of money on registration charges and duties. The state government has also asked the district collectors to identify government lands in their districts.