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
Naidu's Singapore visit begins on Monday
Polavaram in four years, says Babu
Centre releases Rs 385 Cr to AP
Union Environment & Forest Minister offers prayers in Tirumala
KCR congratulates ISRO Chief
Works begin to clean Hyderabad lakes
AP CM to lay Foundation Stone for Pattiseema Project tomorrow
CM congratulates Saina Nehwal
AP Express rescheduled on Sunday
KCR promises to develop Khammam
Withdraw hike in power tariff: Shabbir Ali
Telangana will be power surplus State: KCR
OU presents Rs 563.43 Cr budget
Centre releases Rs 255 crore for AP Varsities
Treat farmer as unit: Legislative Council
More Headline News...
Entertainment
All my friends had sex before marriage: Homely actress
Pawan enquires Kona's safety
'Uttama Villain' Trailer-Talk: Interesting
SOS Pic Talk: Sexy Samantha in short gown
Star hero surprise to National award winners
MAA elections: What is Pawan's stand?
Day 1 collection: Sai Dharma Tej's 'Rey'
'Jil' Day 1 collections
Spotted: Bandla showed 'Mega' love with blood
Shruthi loss is Tamanna's gain
More Entertainment...
Crime News
Builder booked for Friend's murder
Three killed in road accidents
Three persons commited suicide
RPF nabs a tour operator
RPF nab person extorting money
RPF nabs two criminals for stealing
Train staff nab Lap Top thief on Nandigram Express
Man found murdered in Shamshabad
Lake Police save youth's life
Dowry harassment drives woman to suicide
More Crime News...
Special Stories
Driver Training program for Discipline
AP's stringent steps to conserve energy
SCR gears up to face extra rush
Farmer's suicides highest in Andhra Pradesh
Protect forests using technology: Javedkar
HMDA gets Rs 50 Cr for plantation
Assembly's budget session lasted for 79 hours
Hindu Temple Exhibition and Tour in Malaysia
Special buses for SSC exams
No decline in RTC's occupancy: Mahender Reddy
More Special Stories...
 
Business
Warangal-Karimnagar to get Tourism boost
RBI rate cut - good move: Rajesh Prajapati
ORR to Ghatkesar opened for Traffic
TSTT signs partnership with YuppTV
Petroleum Board officials call on AP CS
Mytrah to setup 220 MW wind power plant in AP
RGIA among the top three airports in world
Bank of Maharashtra gives privileges for HNIs
AP Tourism policy by this month-end
Uninor completes network expansion
More Business...
Sports
Kishan Reddy congratulates Saina
India cruise into Semis: beats Bangladesh
Line-up confirmed: India to face Bangladesh
100/100 for Team India
Chris Gayle blasts his way to records, scores WC's 1st 200
India beats South Africa first ever in WC
West Indies make an impressive comeback by beating Pak in WC
Harithon - The Green Run -2K15 in Hyd
IPL Auctions: Delhi gets Yuvraj Singh for 16 Cr
Kohli drives India to emphatic win against Pakistan
More Sports...
Devotion
SVBC to live Telecast Sri Rama Navami
Lord Kodanda Ramaswamy rides on Simhavahanam
TTD opens advance booking of accomodation
Annamayya week to be celebrated from March 16-22
Over 16 lakh pilgrims had Darshan in Tirumala
Mahasivaratri celebrated with religious fervour
Kalyana Venkanna Brahmotsavams off to a colourful start
TTD pays Musical Tribute to Tyagaraja
2015 to be the year of Gosamrakshana
Pranaya Kalahotsavam performed with religious ecstacy
More Devotion...
Hyderabad
Water supply to be hit on March 31
Cyberabad CP bans rallies, meetings on Sriram Navmi
GHMC to open modern graveyard
GHMC to modernize Lower Tank Dhobi Ghat
Talasani to visit Begum Bazar Machli Market
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
Sravanam Project will be enhanced further: TTD EO
TTD Asthana Panchanga expert expires
Footover bridge and Subway inaugurated in Tirupati
Woman dies in car mishap (3 comments)
Muniyappa promises to develop Tirupati Rly Station
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 (1 comment)
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...
Prakasam
Singarakonda Tirunallu fete concludes
RTC to get 300 more buses soon: Sidda
Sidda announced sops to Journalists
Jeevan Asara works with poverty, health and education
Sidda orders high level probe on bus mishap
More Prakasam 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
TANTEX Ugadi celebrations on 28th
TANA Elections Kickoff in Bay Area
TASC Ugadi celebrations on 28th March
CATS 10th Anniversary on May 1st, 2nd
NATA Dallas Convention Kick-Off
More NRI News News...



 
Advertisements
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
Anantapur
Eluru
Guntur
Hyderabad
Kadapa
Kakinada
Karimnagar
Kurnool
 
Nellore
Ongole
Nizamabad
Rajahmundry
Tirupati
Visakhapatnam
Vijayawada
Warangal
Photos
News Gallery
Cinema Gallery
Beauty Gallery
Fashion Gallery
Sports Gallery
Travel Gallery
Devotion
Articles
All Articles
Poetry
Short Stories
Blogs
My Blogs
Popular
Active Blogs
Recently Created
Classifieds
Jobs
Real Estate
Automobile
Personals
Networking
My Friends
New Members
Invite a Friend
 
Discussion
Poetry
Govt and Politics
Offbeat and Jokes
Videos
Top in Views
Top by Rank

(C) 2000-2015 TeluguPeople.com, All Rights Reserved.