Realty prices crash in Amaravathi, middle class happy!

[snoww]

The recent change of government in Andhra Pradesh has led to fall in real estate prices in Amaravathi.

Then TDP government created realty boom in Amaravathi with its decision to build a new world-class capital city for Andhra Pradesh known as Amaravathi.

With this, the Guntur and surrounding villages witnessed unprecedented realty boom on par with Hyderabad during IT boom.

The lands that once fetched less than Rs 10 lakh per acre in villages surrounding Guntur suddenly skyrocketed to crores.

Several realy ventures like apartments, villas came up to cash in on the demand

However, the defeat of TDP in recent Assembly polls and YSRCP coming to power reversed the situation all of a sudden.

This is because AP CM Jagan as Leader of Opposition in previous term strongly opposed construction of new capital in Amaravathi.

Though Jagan did not make any announcements or comments on Amaravathi after becoming CM nearly two weeks ago, the prices fell due to speculations over Jagan may shift the capital, though it not possible to shift the capital at this stage.

With this realtors stopped purchasing lands. There are no buyers for lands or apartments or villas. Only those who are in dire need of apartments to reside are purchasing.

Those who want to purchase apartments, villas as investments are shying away from doing so after Jagan became CM.

With this, the prices crashed. The plot which fetched Rs 30,000 per sq.yard in the capital region has now come down to Rs 20,000.

The cost of an acre land fetched Rs 1 crore to Rs 1.50 crore earlier. It has now come down to Rs 75 lakh to Rs 1 crore.

Despite this, there are hardly any buyers. Realtors expect the same trend to continue till the next six months.

They say the prices will pick up only if Jagan gives a clarity on Amaravathi capital city.

But this slowdown has made middle class happy. They are trying to purchase plots at this level which they could not afford earlier.

[AndhraneedSCS]

Oka 33% paddaya ayithe (assuming source is credible)?

 

Enthaku konavachu Amaravathi lo? Secretariat Assembly ki around 1 mile lo emaina dorikithe

[tacobell fan]

All hyped up news. There are no transactions whatsoever. Latest Buzz is that Jagan will announce very soon to complete the Seed access road that was blocked by three villages which connects to Vijayawada. Just wait for official confirmation in few days. Also, three villages met Jagan and requested more compensation like 1800 sq. yards and he advised them to either continue to farm those lands or just accept current compensation that was given to rest of the villages. Again, this is not official news but close people who aware of the knowledge updated. 

[AndhraneedSCS]

Vallaki 188 Sq yards isthe already ichina vallu andaru agitate chesi gola gola chestaru ga.

 

Final ga YCP sympathesizers are giving their lands as well for land pooling because Jagan is in power?

 

 

[snoww]

 

[tacobell fan]

Just now, AndhraneedSCS said:

Vallaki 188 Sq yards isthe already ichina vallu andaru agitate chesi gola gola chestaru ga. Final ga YCP sympathesizers are giving their lands as well for land pooling because Jagan is in power?

Matter of two months until the review is complete before some momentum, he will finish the critical buildings that are needed for the administration. 

[jalsa01]

39 minutes ago, snoww said:

 

Rates padipote  locals feeel avvali gani anandinchadam enti?

[jalsa01]

54 minutes ago, AndhraneedSCS said:

Oka 33% paddaya ayithe (assuming source is credible)?

 

Enthaku konavachu Amaravathi lo? Secretariat Assembly ki around 1 mile lo emaina dorikithe

akkada konadam waste broo for 10 yrss...  too much prorated rates unnai... max to max 20K

[Bestguy]

Naaku thullur lo uncle real estate choostadu..He mentioned rates idhi varaku laga aythee vundavu ranu vunna 2/3 years for sure..there was drop for sure..

[idibezwada]

nice happened

[AndhraneedSCS]

Assembly, Secretariat ki emi avvadu migatha development ela unna, akkada konte, eppatiki ayina value perugutundi

 

Problem is, no one know if the land prices really dropped and if dropped, by how much?

[tacobell fan]

1 minute ago, snoww said:

 

So far Pro-TDP brought lands before it was hyped, now Pro-YCP time, once all the transactions complete and Jagan officially announce he will continue to support Capital. Some even fear if Jagan accepts Amaravati as Capital the rates will sky rocket. 

[snoww]

16 minutes ago, jalsa01 said:

Rates padipote  locals feeel avvali gani anandinchadam enti?

Real estate Leni locals ki happy ee kada.

In future afford cheyyochu Ani happy

[idibezwada]

11 minutes ago, AndhraneedSCS said:

Assembly, Secretariat ki emi avvadu migatha development ela unna, akkada konte, eppatiki ayina value perugutundi

 

Problem is, no one know if the land prices really dropped and if dropped, by how much?

it not just about where you buy uncle...its about where you buy at what price...nuvvu emkadu ani 50K petti konte adi kuda perugutadi...but dani kanna FD cheskunte ekkuva perugutadi

[idibezwada]

11 minutes ago, tacobell fan said:

So far Pro-TDP brought lands before it was hyped, now Pro-YCP time, once all the transactions complete and Jagan officially announce he will continue to support Capital. Some even fear if Jagan accepts Amaravati as Capital the rates will sky rocket. 

inko singapore sesta ani cheppakapote aa rates petti evadu kontadu uncle...i dont think jagan will hype it with ppts...his gov is more towards welfare than development