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Vijayawada Costlier Than California
By: Tupaki Desk | 22 Sep 2014 11:06 AM GMT
Ever since the reports of Vijayawada becoming AP Capital surfaced, Real Estate Boom in the region has touched peaks to say the least. An official announcement by Chief Minister in Assembly only taken it to the next level.
Now, Reports of Metro Man E Sridharan chalking out the plan for 26 kilometer Metro Rail in Vijayawada has only multiplied the demand for land and cost. Even NRIs were unable to figure out this trend which could earn negative results in the long run.
Ajay, an NRI in California, comments he never thought the land rates between Vijayawada and Guntur will one day be so high. He is unsure about the returns if invested in the current situation as California is cheaper the Vijayawada in land rates. While 1 acre in Livemore costs Rs 5.5 crore, 1 acre in Bandar Road is upto Rs 24 crore, 1 acre in Gannavaram is upto Rs 20 crore and 1 acre in Mangalagiri is upto Rs 15 crore. Even Government's plan to keep the land costs under control have failed terribly.
Now, Reports of Metro Man E Sridharan chalking out the plan for 26 kilometer Metro Rail in Vijayawada has only multiplied the demand for land and cost. Even NRIs were unable to figure out this trend which could earn negative results in the long run.
Ajay, an NRI in California, comments he never thought the land rates between Vijayawada and Guntur will one day be so high. He is unsure about the returns if invested in the current situation as California is cheaper the Vijayawada in land rates. While 1 acre in Livemore costs Rs 5.5 crore, 1 acre in Bandar Road is upto Rs 24 crore, 1 acre in Gannavaram is upto Rs 20 crore and 1 acre in Mangalagiri is upto Rs 15 crore. Even Government's plan to keep the land costs under control have failed terribly.
