Vijayawada: The real estate market in the Vijayawada-Guntur region is witnessing a resurgence as the Chandrababu Naidu-led government revives Amaravati’s capital city project. The resumption of abandoned infrastructure projects and new tenders worth Rs 20,000-Rs 30,000 crore have boosted investor confidence.
During the YSRCP government’s tenure, uncertainty over the three-capital plan forced realtors to shift investments to Hyderabad and Visakhapatnam. However, with Amaravati’s revival, property values in the region have doubled in the last six months, said YV Ramana Rao, CREDAI AP president.
“Earlier, plots in Amaravati dropped below Rs 20,000 per square yard. Now, prices have risen to Rs 40,000-Rs 60,000, and they may touch Rs 1 lakh per square yard within a year,” a developer said.
The government’s proposal to merge Vijayawada, Amaravati, Mangalagiri, and Guntur into a mega metropolis is expected to further drive real estate growth.
With enhanced land registrations and infrastructure projects like outer ring roads and drainage systems, experts predict a real estate boom in the Mangalagiri-Guntur belt.
