Until couple of months ago, the realtors and developers of Hyderabad were looking in various cities of Seema Andhra to buy plots in possible AP capital cities and extend their real estate empire. But every thing got changed as soon as Andhra Pradesh Chief Minister Chandra Babu Naidu hinted at state capital going tobe some where between Vijayawada and Guntur. However the land rates in Vijayawada and Guntur are skyrocketing.
The land prices there are quite unrealistic and speculative. In many areas, the land rates are quoted at least 20% more than that of posh areas in Hyderabad like Jubilee Hills and Hitech City. So most realtors of Hyderabad have returned and they say these rates will very soon get corrected. Most of them are now investing their money on places in the outskirts of Hyderabad and planning to launch ventures soon.