newindianexpress.com-Realty boom? Land prices at all-time high in Amaravati
A week after Chief Minister N Chandrababu Naidu relaunched works in Amaravati, prices of land have shot up to record highs. According to local realtors, land prices in the region have surged by 60% to 100% to Rs 50,000 to Rs 60,000 per sq. yard. The boom in land prices has triggered a debate on whether it is artificial or if it will sustain in the long run.
Over the past 10 years, Amaravati has seen a V-shaped recovery in the real estate segment. Following the bifurcation of Andhra Pradesh in 2014, N Chandrababu Naidu, the then Chief Minister, had announced Amaravati as the capital of the residual State, triggering a surge in land prices. As a result, real estate in the greenfield city, spanning 217 square kilometres, became a subject of much debate and speculation.
