Believing the buzz that the area between Vijayawada and Guntur would be made the capital city of Andhra Pradesh, the real estate business in the region has at once boomed up. After a long stagnated Real Estate Business, now, the realtors in Vijayawada envisage good time for their business.Reports indicate that big players in all the key sectors are keen on making huge investments on Vijayawada and near places.
Speaking on the real estate boom surrounding Vijayawada central minister and BJP top leader Venkaiah Naidu made surprising comments. The central minister condemned the way the prices being hiked on not yet declared capital of the state
He lambasted real estate businessmen for immensely increasing the rates of lands by spreading the rumors of new capital.Venkaiah recalled the days when he sold acre per 800 rs and said that one acre of land now weighs around 20 crore . He implied that whoever buys lands in these areas will go bankrupt.