VIJAYAWADA: After more than four years of lull, land prices in capital Amaravati started moving northwards. While the increase in prices is marginal in some areas, it has gone up by about 50% in the areas where key government establishments were planned according to the master plan.
The recent developments in Telangana came as a trigger for the market movement and they are driving the prices up in Amaravati, according to realtors.
The realty market in capital hit the possible lowest point and has become stagnant there for more than four years now.
Several investors who purchased land in Amaravati in the hope of the proposed world-class city are badly struck with their investments. But now, the prices are gradually picking up in the capital region.
G Gopal Yadav, a realtor from Amaravati, said that he has been getting 10 to 15 enquiries everyday from the day the Telangana election results were declared. Most of his clients are from Hyderabad, Bangalore and United States of America (USA). He observed that the investor’s confidence is slowly getting back now.
