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AP Employees Put Up Houses/Plots In Hyd For Sale!

With AP Chief Minister N Chandrababu Naidu warning and threatening AP employees working in Hyderabad to shift to AP's new capital Amaravati by June 2, 2016, many AP employees who own houses/ plots in Hyderabad started putting them up for sale.

AP employees are in a hurry to sell their property in Hyderabad with a fear that they would be encroached upon later if they leave their properties and even rent them.

Then state governments in Undivided AP allotted plots to employees in Gachibowli, Shamirpet and Neknampur near Golconda fort decades ago.

All these areas have now become very expensive following realty boom in Hyderabad due to IT corridor and other projects.

About 1,800 AP employees got plots in these areas. While some employees built houses on those plots some left vacant and while some are under construction.

With AP government dictating AP employees to shift to Amaravati by June 2, 2016, AP employees complain that even the banks were not sanctioning them loans to build houses and complete the in-complete houses.

Many AP employees built houses by spending Rs 80 lakh to Rs 1 crore, which were mobilised by selling their lands in Andhra.

These employees are now worried over recovering their investments if they sell properties in a hurry.

Some Telangana employees are trying to exploit this situation to their advantage by offering lower amount saying that if AP employees agree for that they would get at least that amount else they would completely lose their property later if they leave to Amaravati as there are chances of encroachers encroaching their properties.

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Tags: Amaravathi Andhra Pradesh Chandrababu Naidu Gachibowli