andhra_jp Posted June 27, 2024 Report Share Posted June 27, 2024 The realtors in Amaravati and Visakhapatnam invested hundreds of crores of rupees between 2014 and 2023. During those 10 years, real estate growth was not natural either in Amaravati or Visakhapatnam. It was a bubble created by the players, and supported by successive governments. Soon after the bifurcation of combined Andhra Pradesh in 2014, the realtors and investors looked for greener pastures in residual Andhra Pradesh. They made huge investments in the expectation that there would be phenomenal demand for housing as the capital was to move to Amaravati from Hyderabad. The YSR Congress Party (YSRCP), led by Y.S. Jagan Mohan Reddy, accused the previous Telugu Desam Party (TDP) government of insider trading concerning Amaravati, and floated a three-capital formula for the development of the State. Investments began flowing towards Visakhapatnam, which was touted as the executive capital. Many ventures on the outskirts of Visakhapatnam city, such as Madhurawada, Pendurthi, Naidu Thota, Sujatha Nagar, Vepagunta, Narava, and BHPV, have come up, even though they remain incomplete for various reasons including financial difficulties faced by the builders. Today, a double bedroom flat in these areas costs more than ₹50 lakh, compared to just over ₹33 lakh five years ago. More than 1.5 crore sft of built-up space, both residential and commercial, is available in Visakhapatnam, but there are hardly any takers. Amaravati and Vijayawada face the same problem. A huge inventory is piled up in Tadepalli and other areas that are close to Amaravati. There are at least 5,000 unsold flats. The same situation prevails in areas such as Poranki, and other suburbs of Vijayawada. About 2,500 flats are available in the outskirts of Vijayawada. A double bedroom flat in areas surrounding Visakhapatnam now costs more than ₹50 lakh compared to just over ₹33 lakh five years ago. While a two-bedroom house (2BHK) costs around ₹35 lakh-₹45 lakh on the outskirts of Vijayawada, a 3BHK costs ₹50 lakh-₹80 lakh. Though there is not much inventory in Vijayawada city, a 3 BHK costs ₹1.5 crore-₹2.5 crore in the city. Most people in Visakhapatnam are salaried middle-class income groups. They do not buy properties for investment purposes; they buy it for residential purposes. In comparison, investments were made in Amaravati predominantly for investment purposes. Though the registration fee is one of the main revenue sources, the government should focus on the gradual development of the real estate sector for sustained development. The industry and services sectors must be developed so that there are more buyers for both residential and commercial spaces. Industry-led development and the creation of new jobs will bring in new buyers. Real estate growth depends on other factors also. It is important to develop basic infrastructure facilities such as roads apart from strengthening flight and railway connectivity. Hyderabad gained from the uncertainty over the capital issue in Andhra Pradesh. But other factors also played a role, such as the robust growth of the industrial and services sectors, as well as infrastructure. The new government should start constructing the capital and focus on the same areas in which Hyderabad is doing well. Quote Link to comment Share on other sites More sharing options...
Popular Post idibezwada Posted June 27, 2024 Popular Post Report Share Posted June 27, 2024 7 minutes ago, andhra_jp said: The realtors in Amaravati and Visakhapatnam invested hundreds of crores of rupees between 2014 and 2023. During those 10 years, real estate growth was not natural either in Amaravati or Visakhapatnam. It was a bubble created by the players, and supported by successive governments. Soon after the bifurcation of combined Andhra Pradesh in 2014, the realtors and investors looked for greener pastures in residual Andhra Pradesh. They made huge investments in the expectation that there would be phenomenal demand for housing as the capital was to move to Amaravati from Hyderabad. The YSR Congress Party (YSRCP), led by Y.S. Jagan Mohan Reddy, accused the previous Telugu Desam Party (TDP) government of insider trading concerning Amaravati, and floated a three-capital formula for the development of the State. Investments began flowing towards Visakhapatnam, which was touted as the executive capital. Many ventures on the outskirts of Visakhapatnam city, such as Madhurawada, Pendurthi, Naidu Thota, Sujatha Nagar, Vepagunta, Narava, and BHPV, have come up, even though they remain incomplete for various reasons including financial difficulties faced by the builders. Today, a double bedroom flat in these areas costs more than ₹50 lakh, compared to just over ₹33 lakh five years ago. More than 1.5 crore sft of built-up space, both residential and commercial, is available in Visakhapatnam, but there are hardly any takers. Amaravati and Vijayawada face the same problem. A huge inventory is piled up in Tadepalli and other areas that are close to Amaravati. There are at least 5,000 unsold flats. The same situation prevails in areas such as Poranki, and other suburbs of Vijayawada. About 2,500 flats are available in the outskirts of Vijayawada. A double bedroom flat in areas surrounding Visakhapatnam now costs more than ₹50 lakh compared to just over ₹33 lakh five years ago. While a two-bedroom house (2BHK) costs around ₹35 lakh-₹45 lakh on the outskirts of Vijayawada, a 3BHK costs ₹50 lakh-₹80 lakh. Though there is not much inventory in Vijayawada city, a 3 BHK costs ₹1.5 crore-₹2.5 crore in the city. Most people in Visakhapatnam are salaried middle-class income groups. They do not buy properties for investment purposes; they buy it for residential purposes. In comparison, investments were made in Amaravati predominantly for investment purposes. Though the registration fee is one of the main revenue sources, the government should focus on the gradual development of the real estate sector for sustained development. The industry and services sectors must be developed so that there are more buyers for both residential and commercial spaces. Industry-led development and the creation of new jobs will bring in new buyers. Real estate growth depends on other factors also. It is important to develop basic infrastructure facilities such as roads apart from strengthening flight and railway connectivity. Hyderabad gained from the uncertainty over the capital issue in Andhra Pradesh. But other factors also played a role, such as the robust growth of the industrial and services sectors, as well as infrastructure. The new government should start constructing the capital and focus on the same areas in which Hyderabad is doing well. ofcourse its a bubble...but article rasinavadiki mind mingindi...how do you expect the price of a 2 bed room or a 3 bed room to remain the same when the construction cost went up? 3 Quote Link to comment Share on other sites More sharing options...
Pavanonline Posted June 27, 2024 Report Share Posted June 27, 2024 20 minutes ago, andhra_jp said: The realtors in Amaravati and Visakhapatnam invested hundreds of crores of rupees between 2014 and 2023. During those 10 years, real estate growth was not natural either in Amaravati or Visakhapatnam. It was a bubble created by the players, and supported by successive governments. Soon after the bifurcation of combined Andhra Pradesh in 2014, the realtors and investors looked for greener pastures in residual Andhra Pradesh. They made huge investments in the expectation that there would be phenomenal demand for housing as the capital was to move to Amaravati from Hyderabad. The YSR Congress Party (YSRCP), led by Y.S. Jagan Mohan Reddy, accused the previous Telugu Desam Party (TDP) government of insider trading concerning Amaravati, and floated a three-capital formula for the development of the State. Investments began flowing towards Visakhapatnam, which was touted as the executive capital. Many ventures on the outskirts of Visakhapatnam city, such as Madhurawada, Pendurthi, Naidu Thota, Sujatha Nagar, Vepagunta, Narava, and BHPV, have come up, even though they remain incomplete for various reasons including financial difficulties faced by the builders. Today, a double bedroom flat in these areas costs more than ₹50 lakh, compared to just over ₹33 lakh five years ago. More than 1.5 crore sft of built-up space, both residential and commercial, is available in Visakhapatnam, but there are hardly any takers. Amaravati and Vijayawada face the same problem. A huge inventory is piled up in Tadepalli and other areas that are close to Amaravati. There are at least 5,000 unsold flats. The same situation prevails in areas such as Poranki, and other suburbs of Vijayawada. About 2,500 flats are available in the outskirts of Vijayawada. A double bedroom flat in areas surrounding Visakhapatnam now costs more than ₹50 lakh compared to just over ₹33 lakh five years ago. While a two-bedroom house (2BHK) costs around ₹35 lakh-₹45 lakh on the outskirts of Vijayawada, a 3BHK costs ₹50 lakh-₹80 lakh. Though there is not much inventory in Vijayawada city, a 3 BHK costs ₹1.5 crore-₹2.5 crore in the city. Most people in Visakhapatnam are salaried middle-class income groups. They do not buy properties for investment purposes; they buy it for residential purposes. In comparison, investments were made in Amaravati predominantly for investment purposes. Though the registration fee is one of the main revenue sources, the government should focus on the gradual development of the real estate sector for sustained development. The industry and services sectors must be developed so that there are more buyers for both residential and commercial spaces. Industry-led development and the creation of new jobs will bring in new buyers. Real estate growth depends on other factors also. It is important to develop basic infrastructure facilities such as roads apart from strengthening flight and railway connectivity. Hyderabad gained from the uncertainty over the capital issue in Andhra Pradesh. But other factors also played a role, such as the robust growth of the industrial and services sectors, as well as infrastructure. The new government should start constructing the capital and focus on the same areas in which Hyderabad is doing well. veedu inka ma Khammam lo apt rates chusthe emantado Quote Link to comment Share on other sites More sharing options...
Konebhar6 Posted June 27, 2024 Report Share Posted June 27, 2024 17 minutes ago, andhra_jp said: The realtors in Amaravati and Visakhapatnam invested hundreds of crores of rupees between 2014 and 2023. During those 10 years, real estate growth was not natural either in Amaravati or Visakhapatnam. It was a bubble created by the players, and supported by successive governments. Soon after the bifurcation of combined Andhra Pradesh in 2014, the realtors and investors looked for greener pastures in residual Andhra Pradesh. They made huge investments in the expectation that there would be phenomenal demand for housing as the capital was to move to Amaravati from Hyderabad. The YSR Congress Party (YSRCP), led by Y.S. Jagan Mohan Reddy, accused the previous Telugu Desam Party (TDP) government of insider trading concerning Amaravati, and floated a three-capital formula for the development of the State. Investments began flowing towards Visakhapatnam, which was touted as the executive capital. Many ventures on the outskirts of Visakhapatnam city, such as Madhurawada, Pendurthi, Naidu Thota, Sujatha Nagar, Vepagunta, Narava, and BHPV, have come up, even though they remain incomplete for various reasons including financial difficulties faced by the builders. Today, a double bedroom flat in these areas costs more than ₹50 lakh, compared to just over ₹33 lakh five years ago. More than 1.5 crore sft of built-up space, both residential and commercial, is available in Visakhapatnam, but there are hardly any takers. Amaravati and Vijayawada face the same problem. A huge inventory is piled up in Tadepalli and other areas that are close to Amaravati. There are at least 5,000 unsold flats. The same situation prevails in areas such as Poranki, and other suburbs of Vijayawada. About 2,500 flats are available in the outskirts of Vijayawada. A double bedroom flat in areas surrounding Visakhapatnam now costs more than ₹50 lakh compared to just over ₹33 lakh five years ago. While a two-bedroom house (2BHK) costs around ₹35 lakh-₹45 lakh on the outskirts of Vijayawada, a 3BHK costs ₹50 lakh-₹80 lakh. Though there is not much inventory in Vijayawada city, a 3 BHK costs ₹1.5 crore-₹2.5 crore in the city. Most people in Visakhapatnam are salaried middle-class income groups. They do not buy properties for investment purposes; they buy it for residential purposes. In comparison, investments were made in Amaravati predominantly for investment purposes. Though the registration fee is one of the main revenue sources, the government should focus on the gradual development of the real estate sector for sustained development. The industry and services sectors must be developed so that there are more buyers for both residential and commercial spaces. Industry-led development and the creation of new jobs will bring in new buyers. Real estate growth depends on other factors also. It is important to develop basic infrastructure facilities such as roads apart from strengthening flight and railway connectivity. Hyderabad gained from the uncertainty over the capital issue in Andhra Pradesh. But other factors also played a role, such as the robust growth of the industrial and services sectors, as well as infrastructure. The new government should start constructing the capital and focus on the same areas in which Hyderabad is doing well. For me its very simple, Vizag is wayyy behind Hyd but has a lot of natural beauty and charm that no other city provides. I am ready to give 0.75% of value of the prices that Hyd commands. Amaravati at this point is no where near Hyd. I would invest or buy in Amaravati if prices are 0.2% of value of the prices that hyd commands. It has the scope to be a bigger city. VJY and Guntur are decent sized cities still less than hyd. 1 Quote Link to comment Share on other sites More sharing options...
CaptainMaverick Posted June 27, 2024 Report Share Posted June 27, 2024 Hyderabad lo real estate kuda adjust avuthundi...instead of artificially inflated numbers of KTR & BRS...with all the support from Modi & the BJP, if CBN is unable to construct a world class capital, then there r no excuses!!! But until then, real estate will be doldrums! Quote Link to comment Share on other sites More sharing options...
andhra_jp Posted June 27, 2024 Author Report Share Posted June 27, 2024 19 minutes ago, CaptainMaverick said: Hyderabad lo real estate kuda adjust avuthundi...instead of artificially inflated numbers of KTR & BRS...with all the support from Modi & the BJP, if CBN is unable to construct a world class capital, then there r no excuses!!! But until then, real estate will be doldrums! Anna, honestly even CBN is also homo sapien and not god or something else.. He can try but 2029 ki amaravati wonders expect cheyyadam is too much as 5yrs looo there can be little progress keeping in mind his other promises like super six and many other developmental works like roads , infrastructure across andhra ... and regular government employees salaries , pensions for old age people and what not.. I will be happy if they are better than previous YCP govt and dont expect any wonders from this coalition govt.. 1 Quote Link to comment Share on other sites More sharing options...
jalsa01 Posted June 27, 2024 Report Share Posted June 27, 2024 20 minutes ago, andhra_jp said: Anna, honestly even CBN is also homo sapien and not god or something else.. He can try but 2029 ki amaravati wonders expect cheyyadam is too much as 5yrs looo there can be little progress keeping in mind his other promises like super six and many other developmental works like roads , infrastructure across andhra ... and regular government employees salaries , pensions for old age people and what not.. I will be happy if they are better than previous YCP govt and dont expect any wonders from this coalition govt.. Max secrateriate, high court ,assembly and govt quarters complete chesi that's all antaru.. Quote Link to comment Share on other sites More sharing options...
idibezwada Posted June 27, 2024 Report Share Posted June 27, 2024 4 minutes ago, jalsa01 said: Max secrateriate, high court ,assembly and govt quarters complete chesi that's all antaru.. nekela telsu uncle? Quote Link to comment Share on other sites More sharing options...
manadonga Posted June 27, 2024 Report Share Posted June 27, 2024 Actually vijayawada vizag lo rates same as district head quarters Availability is very high in both cities Ingole bandar lo same prices as vijayawada Quote Link to comment Share on other sites More sharing options...
Konebhar6 Posted June 27, 2024 Report Share Posted June 27, 2024 50 minutes ago, CaptainMaverick said: Hyderabad lo real estate kuda adjust avuthundi...instead of artificially inflated numbers of KTR & BRS...with all the support from Modi & the BJP, if CBN is unable to construct a world class capital, then there r no excuses!!! But until then, real estate will be doldrums! Price reduction is a myth. In 2007 also hyd real estate prices reached peak. Prices will reduce a little bit depending on how desparate the builders are. But mostly prices will flat over a period of time. With time passing each year, prices appear cheaper to us. Same thing happened to hyd from 2006 - 2014. 1 Quote Link to comment Share on other sites More sharing options...
Konebhar6 Posted June 27, 2024 Report Share Posted June 27, 2024 1 minute ago, manadonga said: Actually vijayawada vizag lo rates same as district head quarters Availability is very high in both cities Ingole bandar lo same prices as vijayawada 6-8 months back .. 0.5 km from ringroad and 1 km from gunadala in vjw ... gated community with 40 and 60 ft roads and all amenities, plus 2 parks, and tennis courts, etc was for 30-35k/Sq yd. Not sure about now. Must have increased by 10k. Absolutely no idea about amaravati. I dont mind buying a piece of land in the capital city though. Quote Link to comment Share on other sites More sharing options...
jalsa01 Posted June 27, 2024 Report Share Posted June 27, 2024 4 minutes ago, idibezwada said: nekela telsu uncle? Max anthe pilloda.. don't expect miracles but Amravati ni capital ga city ga consolidate chestaru with proper roads to farmer plots and state/ central govt buildings.. nen aa area vadine but this tym it will be hard for govt to even complete what I said with freebies Quote Link to comment Share on other sites More sharing options...
idibezwada Posted June 27, 2024 Report Share Posted June 27, 2024 Just now, jalsa01 said: Max anthe pilloda.. don't expect miracles but Amravati ni capital ga city ga consolidate chestaru with proper roads to farmer plots and state/ central govt buildings.. nen aa area vadine but this tym it will be hard for govt to even complete what I said with freebies nuvvu emi avvadu ani sepina sandrababu anni aipotai ani seppina...its still a prediction...with the current prices its still a bubble...prathodiki next gachibowli ne kavali Quote Link to comment Share on other sites More sharing options...
jalsa01 Posted June 27, 2024 Report Share Posted June 27, 2024 5 minutes ago, idibezwada said: nuvvu emi avvadu ani sepina sandrababu anni aipotai ani seppina...its still a prediction...with the current prices its still a bubble...prathodiki next gachibowli ne kavali Hmm yaa.. aa gachibowli emo kaani decent city and activities unna chalu ade 10,000 .. rates will pull back to 25-35k in seeed capital area for sure which is reasonable price.. in 6 months sellers will succumb to pressure Quote Link to comment Share on other sites More sharing options...
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