After the change of government in the state, life has started returning to the Amaravati capital region, which had appeared deserted during the previous regime after shelving the capital proposal. Increasing land prices reflect this resurgence.
After a gap of five years, developmental works slowely taking place in capital’s villages. Builders are working hectically to complete buildings that were 70 to 80 percent finished during the previous TDP regime. Due to this, the sale and purchase of land in the villages of the capital has gained momentum.
Anticipating that Amaravati will regain its former glory some realtors started buying land in this area. Land sales have reportedly been increasing since the first week of June. Prices, which were up to Rs 25,000 per yard last year, are now reportedly increasing to up to Rs 40,000.
Last month, the Thullur sub-registrar’s office completed 280 registrations, while it processed 108 registrations in the last ten days of this month. According to official sources, there were 190 registrations in April and 221 in May.
In the capital region during 2015, the then TDP government took 34,772 acres from farmers through land pooling scheme. The announcement states that the authorities will give developed returnable plots to the farmers who have given land. According to the CRDA Act, returnable plots will be provided within three years.
However, despite the allotment of plots in 2018, the Yuvajana Sramika Rythu Congress Party (YSRCP) took power in the state before commencing development works. They stopped works everywhere. After that, on December 17, 2019, the then YCP government announced the establishment of three capitals in place of the Amaravati capital.
This created a crisis in Amaravati. Land sales have slowed down. With the recent change of government in the state, many realtors, rich people and businessmen are buying land in the capital, thinking that Amaravati will get a new look.
In this background, the farmers who have given land to the government are showing interest in selling their plots. The government has registered relevant documents allotting 1000 yards of domestic land, 200 yards of commercial land to farmers who have given an acre of dry land, 1200 yards of domestic land and 250 yards of commercial land to farmers who have given an acre of farmland. They gave a total of 54,000 plots to the farmers as returnable.
As presently farmers are selling these plots the prices of farms and plots have increased by 50 to 100 percent during the last two months. Overall, the real estate business in Guntur district is booming.
