Land Prices Rising In Amaravati On Capital Hopes

Land prices in Amaravati are surging as hopes for the development of Andhra Pradesh's capital city reignite. The state government's decision to exempt land value revisions in the Amaravati region, coupled with massive infrastructure investments, has sparked a real estate boom in the Vijayawada-Guntur area.

According to D Rambabu, president of Credai-Vijayawada, land prices in Tadepalli, Undavalli, and Mangalagiri have already risen from Rs40,000 to Rs60,000 per square yard. He predicts further appreciation as projects along Bandar Road and nearby areas gain momentum.

The Andhra Pradesh government has allocated Rs24,276 crore for infrastructure works, including trunk roads, layouts, and iconic buildings. Key projects include a new Assembly building spanning 11.2 lakh square feet and a High Court complex estimated to cost Rs1,048 crore.

Revenue Minister Anagani Satya Prasad announced that property registration charges will increase from February 1, though villages in the Amaravati capital region will remain exempt. This move aims to align registration values with market prices, which are currently lower in Amaravati compared to cities like Visakhapatnam and Tirupati.

The government's focus on Amaravati was evident during Chief Minister N Chandrababu Naidu's recent visit to Davos, where he highlighted the city as a key investment destination. With Rs15,000 crore from the World Bank and Rs11,000 crore from HUDCO, the capital reconstruction is gaining momentum.

Farmers in Amaravati, who had surrendered 35,000 acres for the capital's development, are optimistic about the renewed focus. The coalition government's commitment to completing the capital's first phase within three years has further boosted confidence in the region's growth potential.