After Andhra Pradesh was bifurcated from the combined state, the Telugu Desam Party government in 2014 proposed Amaravati as the capital of the state. The rates of the lands between Guntur and Vijayawada, the Vijayawada-Chennai highway, and till Acharya Nagarjuna University in Nambour saw wings.
The construction of Villas and apartments started seeing growth as capital was proposed. NRIs settled abroad, and employees from other states and real estate companies started focusing on the Amaravati region. Real estate companies also started ventures there. There was a talk that having at least a cent of land in the capital region would make people Crorepatis. The capital area saw good construction between 2014 June to 2019 April.
Things changed quickly after YCP came to power in 2019 and Jagan became the Chief Minister. Jagan announced that the state will have three capitals. The YSRCP leaders alleged that there are benames of Chandrababu Naidu in Amaravati and thatâs why the capital was set up there. There are allegations that Jagan not focusing on the construction in Amaravati for the same reason. The situation reached a point the High Court had to give directives to start construction. But it is said that there is no big development in Amaravati.
The experts say that the real estate work in Amaravati's capital region slowly as the High Court quashed the bill on three capitals and there is an opinion that the Supreme Court might also give a positive verdict. The elections are less than one year away now.
There is a possibility of making Guntur city and neighboring areas Greater Guntur Municipal Corporation(GGMC) if TDP comes to power. On top of this, there is also a possibility of announcing the Greater Vijayawada Municipal Corporation(GVMC) by including the surrounding areas like Gollapudi, Ibrahimpatnam, Kondapalli, Penamaluru, Tadigadapa, Yanamalakuduru, Tadepalli, Mangalagiri, and others.
Amid this, real estate is said to be seeing steady growth in Amaravati. On the other hand, the Centre in Parliament meeting said that funds were given to the Andhra Pradesh capital. Indirectly, the Centre said Amaravati is the capital.
The real estate people and builders who faced a Big blow with the three capitals announcement made by Jagan are now hopeful. It is said that the real estate sector was hit really hard after the YCP government came to power. There is a talk that says that the real estate traders are hopeful that the Supreme Court verdict would be in favour of Amaravati and they are making ventures.
The construction of Villas and apartments started seeing growth as capital was proposed. NRIs settled abroad, and employees from other states and real estate companies started focusing on the Amaravati region. Real estate companies also started ventures there. There was a talk that having at least a cent of land in the capital region would make people Crorepatis. The capital area saw good construction between 2014 June to 2019 April.
Things changed quickly after YCP came to power in 2019 and Jagan became the Chief Minister. Jagan announced that the state will have three capitals. The YSRCP leaders alleged that there are benames of Chandrababu Naidu in Amaravati and thatâs why the capital was set up there. There are allegations that Jagan not focusing on the construction in Amaravati for the same reason. The situation reached a point the High Court had to give directives to start construction. But it is said that there is no big development in Amaravati.
The experts say that the real estate work in Amaravati's capital region slowly as the High Court quashed the bill on three capitals and there is an opinion that the Supreme Court might also give a positive verdict. The elections are less than one year away now.
There is a possibility of making Guntur city and neighboring areas Greater Guntur Municipal Corporation(GGMC) if TDP comes to power. On top of this, there is also a possibility of announcing the Greater Vijayawada Municipal Corporation(GVMC) by including the surrounding areas like Gollapudi, Ibrahimpatnam, Kondapalli, Penamaluru, Tadigadapa, Yanamalakuduru, Tadepalli, Mangalagiri, and others.
Amid this, real estate is said to be seeing steady growth in Amaravati. On the other hand, the Centre in Parliament meeting said that funds were given to the Andhra Pradesh capital. Indirectly, the Centre said Amaravati is the capital.
The real estate people and builders who faced a Big blow with the three capitals announcement made by Jagan are now hopeful. It is said that the real estate sector was hit really hard after the YCP government came to power. There is a talk that says that the real estate traders are hopeful that the Supreme Court verdict would be in favour of Amaravati and they are making ventures.