The Realty Sector in Amaravati hoped for a fillip in the demand as the Interim government complex works in Velagapudi are nearing completion and will be open for full functioning in few days. But the construction and realty sector in the area were hit by hiked price of cement and shortage of stocks.
The Cement Bag price which was earlier 230 Rupees increased to 300 putting the extra financial burden and then there is the shortage of cement. There are about 3,500 various types of constructions are under progress in Amaravati Capital Region and Guntur city which are affected by these problems.
As the government is gearing to shift the workforce of about 12000, there is a surge in the demand for rented houses and that gave rise to several new constructions in the capital area. The realtors are alleging artificial shortage by the companies and are asking the government to interfere and initiate actions to control the price and increase supply according to the demand.
