TeluguPeople
  are the trend-setters


News: Headline News

Land transactions stand still in Vijayawada, Guntur


VIJAYAWADA: Land transactions got almost halted in Krishna and Guntur districts for the last few months as the farmers and realtors are not willing to sell their lands with hope of getting higher prices after bifurcation of the state.

The land prices are already very high in these two districts and are expected to rise further after bifurcation of the state. Yet, the process for bifurcation of state and proposals for construction of a new capital for Seemandhra state has no great impact in Krishna and Guntur districts.

People are still confused about the division of the state and the Vijayawada-Guntur region becoming the new capital. The land prices are already very high in these two districts and realtors are not able to purchase lands at exorbitant prices.

Another important reason for the stalemate in land transactions is that the Union government has not announced that Vijyayawada-Guntur region will become the capital of the residuary state of Andhra Pradesh.

Moreover, the leaders of Krishna and Guntur districts have not started lobbying for the new capital as is being done by leaders of some other districts in Seemandhra.

These leaders have already voiced their demand for making Kurnool, Vizag, Ongole and Tirupati the new capital of the truncated state.

In Krishna district, an acre of land abutting highways and main roads costs anywhere between Rs 1 crore and Rs 3 crore. The situation is similar in Guntur district.

So far, thousands of acres of land in Gannavaram, Gollapudi, Kanuru, Nunna, Enikepadu and Ramavappadu areas surrounding Vijayawada have been converted into real estate ventures.

Realtors are unable to sell the plots for more than four years due to the economic slump and other reasons. Neither the Vijayawada Municipal Corporation nor the Vijayawada, Guntur, tenali and Mangalagiri Urban Development Authority (VGTMUDA) received a single application in 2012 for construction of a new apartment.

This is because the land prices are very high and construction costs too are increasing every year. Keeping in view these reasons, realtors are not investing huge amounts of money either for construction or creation of new ventures.

S Chakrapani, city planner, said the applications received by the VMC is for construction of new apartments and multi storied buildings are declining due to high cost of land and less demand for apartments.

Another important reason for the downfall of realty business is the declining remittances from NRIs in the two districts situated on either side of Krishna river.

Due to meltdown and global recession, the income levels of Telugu-speaking people in the US, UK, Ireland and other countries have gone down. Consequently, the NRIs from Krishna district settled in these countries are not able to send money back to their homes.

The slump in the software sector too has contributed the sluggishness in realty business in Krishna and Guntur districts. Software engineers were the major buyers of new flats after businessmen and government employees in this region.

Gadde Rajling, president of the Greater Vijayawada Builders Association, said land prices were already very high in Krishna and Guntur districts and would increase further with bifurcation of the state.

Realtors have already purchased vast tracts of lands around Vijayawada predicting that the city would become Greater Vijayawada. Same is the case with Guntur city which will be expanded to become Greater Guntur with the merger of ten villages with the city.

It is estimated that 2,000 acres of government land is available between Krishna and Guntur districts for building a new capital.

Dhanekula Sivam of Dharani Real estate at Gollapudi, one of the biggest real estate consultants in the city, said land transactions stagnated for the last few years as farmers and others have stopped selling their lands hoping to get higher prices in the event of the state getting divided.

District registrar (western Krishna) G Balakrishna said both government and market value of land is very high and there is less possibility of the prices rising further.

Md Ameer Jani, a realtor at Mangalagiri, said Mangalagiri town, which stands midway between Guntur and Vijayawada, can be developed into a new model township if the drinking water problem is solved.

He said several hundreds of acres land is still available in some areas at reasonable rates. He said the government has to give incentives and concessions to the middle-class people to develop new colonies on the outskirts of the town.

Jani said the land prices in the town had already skyrocketed due to the realty boom witnessed six years ago. But now, with the uncertainty over the state's division, transactions have declined over the years.



 
News Posted: 25 November, 2013
 
Be first to comment on this News / Article!


 

Headline News
Event City to come up in Hyderabad
Jana Reddy demands security for Congress leaders
T-TDLP demands big chamber in Assembly premises
UK to tap renewable energy potential in AP
TRS, Cong, BJP candidates file nomination for Medak by-polls
YSRCP walks out over loan waiver
Triangular contest for Medak LS by-poll
Alignmnet change in Metro Rail to cost 400 crore
Govt to unleash IT revolution in Telangana
Power crisis haunts Telangana
This gang held 'darbars', while cops look away
Hyderabad to get Rose Garden soon
EC files counter in Allagadda poll case
Desapati Srinivas made OSD to CM KCR
Cong fields candidate for Nandigama by-poll
More Headline News...
Entertainment
Bellamkonda tit for tat to Manchu's
Shiva's re-release in 2 states
Rabhasa trimmed to size
Koratala Siva quashes all rumors
Prabhas becomes a rage in China
GAV audio release on Sept 15
Manchu Lakshmi halting Rabhasa release
RGV booked for comments on Hindu gods
Power trailer: Packed with Power
Pawan's 45 min preaching!
More Entertainment...
Crime News
DRDO Officer stabbed by thief near Charminar
Two held for kidnapping a new born girl
Naidu directs stern action in Guntur rape, murder case
Two held for illegal refilling of domestic LPG gas
Car Driver killed in road accident
Woman, niece brutally murdered in Old City
Businessman electrocuted to death
Chartered Accountant commits suicide
Software employee dies after falling from gate
Businessman killed in Train accident
More Crime News...
Special Stories
No takers for engineering seats in Telangana
Medak LS by-poll: Cong troubles far from over
Mission Saffron: Hunt down TRS
Household Survey plagued by many flaws
NRIs came together to support Farmers
Hanging bridge across Durgam Cheruvu
Statue of Equality near Hyderabad
KCR may patch up with Modi
Bharat Ratna for Vajpayee, Netaji?
Seaplane services to boost AP tourism
More Special Stories...
 
Business
Australian Consul General visits Sri City
Pegasytems plans India expansion
Shreem Group plans big investment in Telangana
IKEA to set up its first store in Hyderabad
IT exports from Telangana touches Rs 57K Cr
Centre invites investors for Textile Park in Ongole
AP to adopt multipronged strategy to meet Energy needs
Telangana Govt will be industry-friendly: KTR
KTR charms IT crowd, vows to power start-ups
World's biggest Tech incubating facility in city
More Business...
Sports
Kashyap scripts history with gold
The catch i dropped cost us the game: Malinga
Thumping win brings a smile on Gambhir's face
Kolkata Ride Kallis wave to crush Mumbai
India enters final of World T20
Over 6,000 participate in Republic Day Ride
Kambli suffers heart attack
Helen's rain dance could play spoilsport
Bharat Ratna parting gift to Sachin
Tendulkar falls short of farewell ton
More Sports...
Devotion
Varalakshmi Vratam celebrated at Tiruchanur
Chandi Yagam concludes in Tirumala
Singapore Minister offers Prayers in Tirumala
Vatican reportedly has a Vishnu temple
Godavari Pushkaralu from June 28 next year
IRCTC introduces special train for pilgrims
Prasanna Venkateswara Swamy Rathothsavam
Temple opening in Central Illinois in June
New York's Metropolitan Museum to showcase Hindu gods
Chief Election Commissioner of India in Tirumala
More Devotion...
Hyderabad
B Tech student dies after falling from running train
GHMC makes elaborate arrangements for survey
BJP objects to Mayor's review meeting
Mayor inspects I-Day arrangements at Golconda Fort
Survey to identify beneficiaries of schemes: GHMC Chief
More Hyderabad News...
Visakhapatnam
T-decision soon, says Mallu Ravi
Kiran lays stones for hospital, sub-station
Fishermen vent ire on officials
Five picnickers meet watery grave
Minister admits encroachment of Vizag Wakf land
More Visakhapatnam News...
Vijayawada
Amaravati Raja Gopuram to be demolished
Three arrested in MJM hostel sex scandal
CM reviews Vijayawada civic issues with Minister and MLAs
'Bhanu is in AP, will be arrested soon'
Shilparamam in Vijayawada soon
More Vijayawada News...
Tirupati
Footover bridge and Subway inaugurated in Tirupati
Woman dies in car mishap (3 comments)
Muniyappa promises to develop Tirupati Rly Station
Major fire in Tirumala, 10 shops gutted
Six tonnes of red sandalwood seized
More Tirupati News...
Anantapur
National kabadi player attempts suicide
Congress to field Patil and Ananta for by-polls
Eight killed in two mishaps
Oil Mill owner of Dhrmavaram kidnapped
Four killed in car-auto collision near Puttaprthi
More Anantapur News...
Kadapa
Five-year-old girl raped by relative
Three killed, five injured in road accident
Three killed, six injured in road mishap
TDP MLC calls off fast
Woman gets stuck between boulders
More Kadapa News...
 
Guntur
Techie kills girlfriend, himself
Makineni Pedarathaiah quits YSR Congress
Guntur tops the list of HIV patients (1 comment)
RTC to operate 750 buses for Maha Sivaratri
Intruder attacks inmates of girls' hostel in Tenali
More Guntur News...
Karimnagar
TRS demands committee to study weavers' problems (1 comment)
Narayana denies making objectionable remarks
Deputy speaker's relative commits suicide
Money-lenders lock up family of debtor
TDP leader Muddasani passes away
More Karimnagar News...
Kurnool
Vote for Jagan leads to bifurcation of State: TG
CEO wants strong policing in faction-hit areas for by-polls
Lovers die in suicide pact
Four of a family murdered near Allagadda
Srisailam bracing up for Maha Sivaratri
More Kurnool News...
Nellore
Ragpicker gangraped, killed in Nellore
No hunger strike in Nellore Jail: Superintendant
Bapuji calls for unity among pro-bifurcation groups (1 comment)
Heavy rains disrupt life in Nellore
Depressed over poor marks, student ends life
More Nellore News...
Nizamabad
Two killed, 14 injured in lorry-auto collision
20 injured as bus overturns
30 injured as RTC bus overturns
Pocharam held for disrupting Rajiv statue's unveiling
1.3 kg gold, Rs 4.6 lakh stolen from Andhra bank
More Nizamabad News...
Warangal
TDP MLAs held in Warangal for protest
TDP T Forum opposed to Rayala Telangana
Warangal police seize 1400 kg ganja
Woman, son pushed to death from train
Celebrations to mark 800 years of Ramappa temple
More Warangal News...
Eluru
Congress election office set up in a lodge
Man dies in police station, relatives allege custodial death
TDP MLA launches fast for short supply of jute bags
Property disputes lead man to burn brother alive
Sleepy goldsmith robbed of 1.6 kg gold, Rs 13 lakh cash
More Eluru News...
Rajahmundry
Have evidence to prove Ambati's hand in Emmar scam
SHRC seeks report on death of girl due to dog bite
Six held for pushing women into prostitution
Jagan supporters disrupt Rachabanda
3 die as lorry plunges into Godavari
More Rajahmundry News...
Kakinada
Spurned lover stabs girl in E.Godavari district
Lorry driver abducts pregnant woman
Liquor kingpin Balu surrenders
Youngster slits lover's throat
One more dog bite death, toll mounts to 6
More Kakinada News...
NRI News
Womaania on Sept 20th in New Jersey
NRI TDP raised 30k for Capital Development Fund in CT
Ganesha Chaturthi celebrations in NJ from Aug 29th
NATS to support MYTRA
NRI TDP Victory Celebrations with Dr. Kodela
More NRI News News...



 
Advertisements
Advertisements
Beauty and Skin Care
For all your favorite branded products of Beauty, Skin Care, Perfumes, Makeup and more!
College Admissions in USA
Guaranteed Admissions or Processing Fee will be refunded. At USAdmissions.com
EducationAndhra.com
One-stop Destination for Information on Educational Resources related to Andhra Pradesh
Get the best Results!
Reach potential customers thru TeluguPeople.com, advertise with us!!
Regional News
Hyderabad
Visakhapatnam
Vijayawada
Tirupati
Kurnool
Rajahmundry
Warangal
Anantapur
Eluru
Guntur
Kadapa
Kakinada
Karimnagar
Nellore
Nizamabad
Blogs
My Blogs
Popular
Active Blogs
Recently Created
Classifieds
Jobs
Real Estate
Automobile
Personals
Discussion
Poetry
Govt and Politics
Offbeat and Jokes
Networking
My Friends
New Members
Invite a Friend
Galleries
My Photos
News
Cinema
Fashion
Sports
Travel
Videos
Top in Views
Top by Rank

(C) 2000-2014 TP Media India Ltd., All Rights Reserved.