With the recent victory of the Telangana Rashtra Samiti (TRS) in the byelections, it appears that the Andhra region has begun to emerge as a prospect for the property development. It is heard that recently two city realtors of Andhra origin visited their hometown to see various investment options and they are back after booking a few ‘bits’ on the Guntur-Vijayawada road. Now, the fever is picking up and the buzz is that several other realtors from the city’s settler community have begun touring the coastal Andhra as they see a new business destination there.
Top in the list are the districts of Visakhapatnam, Guntur, Vijayawada and Krishna. Even the experts say that these districts could get past Hyderabad’s realty market if state government doesn’t take a proper stand and end this issue. Ever since the agitation for Telangana intensified, the talk has been on about a rise in property deals in the Andhra region. But unfortunately, it is now turning out to be a reality going by the way the last few months witnessed.
Whether there is truth in it or not, one thing looks clear that the prices in the districts are going for a hike and even the NRIs are beginning to cast a look. If sources are to be believed, recently the Visakhapatnam Urban Development Authority (VUDA) auctions witnessed record-breaking bids and many are saying that the beach city will beat the capital city as the next realty hub of Andhra Pradesh. The prices were nearly five times the normal rates, as per sources and the icing on the cake is that most of them were NRI buyers.
As per Raja Srinivas, the president of Visakhapatnam Builders Association “These buyers would have gone to Hyderabad had it not been for the political unrest, if the auctions are any indication, Vizag is set to draw more buyers in the days to come.” Apart from Vizag, the neighbouring districts of Krishna and Guntur have now caught the attention of the city realtors. Apparently, the land prices in some parts of these districts have shot considerably over the last six months many are preferring these districts over a troubled Hyderabad.
A noted property dealer Raghuram mentioned “People from the Andhra region with short-term investment plans are now looking at their home-towns instead of Hyderabad. The price is not the factor for them,”. He also added that land values have appreciated by 50 to 75 per cent. Though there is not much happening right now, the realtors are positive that soon the graph will change. In a way, it looks like the time has come for Hyderabad to go backward by nearly 20 years, thanks to KCR and his political motives.
Top in the list are the districts of Visakhapatnam, Guntur, Vijayawada and Krishna. Even the experts say that these districts could get past Hyderabad’s realty market if state government doesn’t take a proper stand and end this issue. Ever since the agitation for Telangana intensified, the talk has been on about a rise in property deals in the Andhra region. But unfortunately, it is now turning out to be a reality going by the way the last few months witnessed.
Whether there is truth in it or not, one thing looks clear that the prices in the districts are going for a hike and even the NRIs are beginning to cast a look. If sources are to be believed, recently the Visakhapatnam Urban Development Authority (VUDA) auctions witnessed record-breaking bids and many are saying that the beach city will beat the capital city as the next realty hub of Andhra Pradesh. The prices were nearly five times the normal rates, as per sources and the icing on the cake is that most of them were NRI buyers.
As per Raja Srinivas, the president of Visakhapatnam Builders Association “These buyers would have gone to Hyderabad had it not been for the political unrest, if the auctions are any indication, Vizag is set to draw more buyers in the days to come.” Apart from Vizag, the neighbouring districts of Krishna and Guntur have now caught the attention of the city realtors. Apparently, the land prices in some parts of these districts have shot considerably over the last six months many are preferring these districts over a troubled Hyderabad.
A noted property dealer Raghuram mentioned “People from the Andhra region with short-term investment plans are now looking at their home-towns instead of Hyderabad. The price is not the factor for them,”. He also added that land values have appreciated by 50 to 75 per cent. Though there is not much happening right now, the realtors are positive that soon the graph will change. In a way, it looks like the time has come for Hyderabad to go backward by nearly 20 years, thanks to KCR and his political motives.
