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Realty booms in Rayachoti, goes bust in Rajampet
By: Tupaki Desk | 11 Feb 2022 1:28 PM GMT
One announcement from the YS Jagan Mohan Government has brought the whole real estate edifice in Rajampet crashing down. The region, known as Andhra Kuwait, has a booming real estate business and starting from Rajachoti Road to Chitweli Road, the real estate agents have a field day. All this was till the announcement of district reorganisation came.
With the announcement that Rayachoti not Rajampet would be the district headquarters, the fortunes of over 100 major realtors and around 1000 middlemen and small agents in the region have come crashing down. The fate of their huge investments now hangs in the balance. According to sources, over 5000 plots were up for sale in the hope of Rajampet becoming the district headquarters.
Meanwhile, the real estate in Rayachoti, the proposed district quarter, has suddenly zoomed on the fast lane. It appears some people had prior information and have purchased huge chunks of land in and around Rayachoti. Suddenly, there is a demand for land and housing plots in Rayachoti.
Realtors in Rajampet say that at least 20 ventures, which were ready for sale, are now looking at an uncertain future. There was huge demand in Tallapaka village, which is the birthplace of spiritual bard and great devotee Annamayya. Now, all of this has vanished with just one notification. Sources say that the realtors are likely to lose up to Rs 500 crore in Rayachoti.
With the announcement that Rayachoti not Rajampet would be the district headquarters, the fortunes of over 100 major realtors and around 1000 middlemen and small agents in the region have come crashing down. The fate of their huge investments now hangs in the balance. According to sources, over 5000 plots were up for sale in the hope of Rajampet becoming the district headquarters.
Meanwhile, the real estate in Rayachoti, the proposed district quarter, has suddenly zoomed on the fast lane. It appears some people had prior information and have purchased huge chunks of land in and around Rayachoti. Suddenly, there is a demand for land and housing plots in Rayachoti.
Realtors in Rajampet say that at least 20 ventures, which were ready for sale, are now looking at an uncertain future. There was huge demand in Tallapaka village, which is the birthplace of spiritual bard and great devotee Annamayya. Now, all of this has vanished with just one notification. Sources say that the realtors are likely to lose up to Rs 500 crore in Rayachoti.
