Anatapur: Realtors suffer losses as land prices plunge

[snoww]

Investors struggle to repay EMIs and hand loans.

 A senior official from the Registrations department recalled that the department earned Rs 1,200 crore during 2014-2015, while in 2015-2016, it earned Rs 3,000 crore as Rayalaseema districts recorded significant growth in earnings till 2018.

ANANTAPUR: An acre of land on the roadside of NH 44, closer to KIA Motors India unit, cost around Rs 2 crore one year ago. A secondary-level leader of Telugu Desam, from a village closer to KIA unit in Penukonda mandal, had sold out his two acres of valuable land one-and-a-half years ago and turned out as a realtor by investing the entire money into the trade and also obtained a loan of Rs 1 crore in hand, towards business, following the real estate boom in surrounding 30 km radius of KIA motors and proposed ancillary units in Penukonda and CK Palli mandals.

The farmer turned realtor reportedly incurred heavy loss after he was unable to sell lands and also to pay interest toward debts and finally handed over 3.5 acres of land during a private settlement to the money lenders.

 

 

Not only the secondary-level leader, tens of hundreds of persons turned as realtors, incurred huge loss following sudden fall in land prices in Anantapur district.

Official sources reveal-ed that Rayalaseema, mostly Anantapur and Kadapa, had witnessed  real estate boom during the last two years as the registrations recorded significant growth while the coastal areas witnessed poor trading.

A senior official from the Registrations department recalled that the department earned Rs 1,200 crore during 2014-2015, while in 2015-2016, it earned Rs 3,000 crore as Rayalaseema districts recorded significant growth in earnings till 2018.

With increased hopes on establishment of new industries and institutions, land prices at proposed surrounding areas of the institutes had increased till 2018. But, the steep fall in the trade incurred huge loss not only for realtors, but a major loss for building owners who constructed multi-storeyed buildings, hoping to get attractive rents from the Koreans and other employees of KIA Motors.

As already Penukonda area turned out into a Korean Township, the people of Penukonda had initially gained maximum rents.

“But, the employees, including Koreans , have been opting villages closer to KIA unit and top-level officials have been residing in Bengaluru”, sources said and added that investors have been facing problems to repay EMIs and hand loans.

K. Sreenivasulu, whose family has 12 acres near Palasamudram, closer to NH-44 in Gorantla mandal in the district, hopes to get value for the lands due to KIA and other industries.

“We withdrew a proposal for selling of land because prices fell drastically than in 2018”, he said.

Only those who sold out lands at initial stages gained money and realtors incurred huge loss and were unable to settle issues.

For instance, a former TD minister had reportedly purchased more than 130 acres of land, closer to KIA unit, two years ago, but immediately gave it to a company and gained profit.

In fact, many realtors and land owners incurred huge loss after industries were not set up during previous years.

Lepakshi Knowledge Hub at Kodikonda, Brahmani Steels in Kadapa district, Science City in Kadiri area of Anantapur district were among the realtors who incurred heavy loss.

[snoww]

Jagan win tharuvatha stop ina Anantapur lo Development antunna Boothu Kittu 

[MiryalgudaMaruthiRao]

Langa eddies happiesu 

[snoww]

2 minutes ago, MiryalgudaMaruthiRao said:

Langa eddies happiesu 

ltt for langas

[caesar]

Redddyyy vaari raajyam lo abhivrudhi yela.....only dochukonvadam...dopidi cheyatam....

[hawk]

48 minutes ago, caesar said:

Redddyyy vaari raajyam lo abhivrudhi yela.....only dochukonvadam...dopidi cheyatam....

Commode palana lo pakkaleyyadam....pandabettadam....idhe jarigindhaa?

[comradee]

eddy na kodukulu

[comradee]

16 minutes ago, hawk said:

Commode palana lo pakkaleyyadam....pandabettadam....idhe jarigindhaa?

highly respected eddy

ysr gadia palana ias lu em ayyaro telusu ga...

[k2s]

 jaffa jagan

[hawk]

Just now, comradee said:

highly respected eddy

ysr gadia palana ias lu em ayyaro telusu ga...

ias lu anni cases koteestunnaru kadhaa...fake cases petti torture chesina mundaki fookula cancer vachi.. politics lo fade out ayindhi.......daaniki support chesina bolligaaniki next guddalo cancer vastadhi....dont worry. Karma is a bitch!

[comradee]

Just now, hawk said:

ias lu anni cases koteestunnaru kadhaa...fake cases petti torture chesina mundaki fookula cancer vachi.. politics lo fade out ayindhi.......daaniki support chesina bolligaaniki next guddalo cancer vastadhi....dont worry. Karma is a bitch!

same karma is bitch.best proven result- YSR 

esu padam saale gadu.

[hawk]

Just now, comradee said:

same karma is bitch.best proven result- YSR 

esu padam saale gadu.

YSR died in the line of duty, as a CM going on an official programme.    Bolligaadu already bathiki sastunnadu.... janalatho ummeyinchukunta roju.......oka nikammme kodukuni chuskuntaa roju kumili kumili esdustunnadu....

[comradee]

2 minutes ago, hawk said:

YSR died in the line of duty, as a CM going on an official programme.    Bolligaadu already bathiki sastunnadu.... janalatho ummeyinchukunta roju.......oka nikammme kodukuni chuskuntaa roju kumili kumili esdustunnadu....

hahahha.

ade bayya ysr gadi chavu vadi karma ne karanam.evadu sastahdu ala.nuvve annav ga karma is bitch.as it's ga jariginidi adiki.

piece peice eddy.

[hawk]

1 minute ago, comradee said:

hahahha.

ade bayya ysr gadi chavu vadi karma ne karanam.evadu sastahdu ala.nuvve annav ga karma is bitch.as it's ga jariginidi adiki.

piece peice eddy.

Bolligaadu ichapuram to Chittor thak kaandrinchi ummeyinchukknnadu....janalatho..... Nikamme pulokesh gaadni kanisam MLA ga kuda gelipunchukoleka poyaadu.....Idhi kudaa Karma ne....

[comradee]

1 minute ago, hawk said:

Bolligaadu ichapuram to Chittor thak kaandrinchi ummeyinchukknnadu....janalatho..... Nikamme pulokesh gaadni kanisam MLA ga kuda gelipunchukoleka poyaadu.....Idhi kudaa Karma ne....

ysr gadi karma evadiki oddu. ra ayaa.

intaki aa pieces anni ysr gadi vena pakkana dorikina mamsam muddalu ani erokockahru ga.

ayaa sevam pakkane rajakeyyallu modalettina mi jailgan gadi gurunchi enta takkuva matladitey anta manchidi.

win/lose is ok man but character undali.

paytm batch gallaki adi undadu eddie ga.