The Realty Sector in Amaravati Capital Region is getting back its shine given that the state government has shifted its administration from Hyderabad to Velagapudi. Suddenly, there is a demand for lands and apartments in the area and the land prices have also gone up. The boom also is bringing good income for the registration department in recent months.
In the past six months, the department has earned Rs 236 crore in revenue against the targeted Rs 209.50 crore in Guntur. The land prices and the transactions were at all time low after the capital announcement till August. But then the opening of the Temporary Secretariat gave confidence to the public about the starting of Amaravati construction.
Real Estate experts say that the boom is expected to get bigger with the full-fledged activity happening in the next few months. The farmers who are getting their share of developed plots from AP CRDA are gearing up to make money selling those lands. Farmers are expecting that the land prices will further soar towards the end of the year or early next year.