50% fall in Amaravati real estate, Hype over Hyderabad

  • Written By: Last Updated:
50% fall in Amaravati real estate, Hype over Hyderabad

Land prices in Amaravati have touched a peak of Rs 15 crore per acre in prime areas at one stage during TDP regime, due to hype created by former CM N Chandrababu Naidu over developing a world-class capital city. After TDP lost in recent Assembly polls and YSRCP forming the new government ,the real estate market crashed due to negative developments such as Jagan ordering halt of Amaravati construction works, ordering probes on land pooling and land allotments, WorldBank dropping financial assistance to Amaravati.

Now the land prices in Amaravati ranges from 5-7 crores per acre. While land prices in Hyderabad have doubled as investors are shifting their base from Amaravathi to Hyderabad due to political uncertainty. In Uppal land per acre priced from 10-18 crores and in Miyapur from 12-24 crores followed by Kukatpally quoting 48-58 crores per Acre. While Banjara hills and Jubilee Hills counts to Humongous amount of 90 crores per Acre. Moreover Realtors in Hyderabad are making hay with prices in Amaravathi crashing and directly contributing to the increase in realty prices in Hyderabad.

Tags

follow us