Andhra Pradesh: Realtors hoping for upward trend

Guntur: The realty sector has been badly affected with the slump for the past one year. The realtors are hoping for an uptick  in the realty sector with the starting of construction in Amaravati. The AP government announced starting of Amaravati works from January 2108 in view of getting permissions from the National Green Tribunal, hence the pooled farmers and realty sector are expecting development of villages of Amaravati into towns and cities in the coming days.

The Amaravati Seed Access Road, Amaravati government core, High Court, permanent Assembly, permanent Secretariat, Raj Bhavan, CM’s house, ministers quarters’, nine new cities, LPS returnable colonies, officials’ quarters and trade/business centres — all were proposed in the new capital Amaravati, but no works have started till now.

In view of NGT giving permission with conditions, the government and APCRDA have started measures to speed up the Amaravati works. It recently started officials’ quarters work of government employees and legislators’ housing complexes with 432 flats for legislators, IAS, IPS and IFS officials, as many as 1,968 houses for non gazetted officers and houses for gazetted offices and fourth class employees between Lingayapalem and Nelapadu. The locals, officials and realtors are hoping for migration of population with the completion of housing complexes in Amaravati to boost the realty market. Pooled farmers who got returnable plots said the land price for plots is ranging from Rs 10,000 to Rs 23,000 per feet in the commercial areas.