Real estate prices zoomed in Amaravati witnessing anywhere between 50% and 100% increase due to the massive victory of the TDP, Jana Sena and BJP alliance, renewing the buyers' interest. Everyone is expecting a statement from Prime Minister Narendra Modi in favour of Amaravati during N Chandrababu Naidu's swearing-in ceremony as CM.
Farmers are expecting a further increase of land prices in case of a positive statement by Modi. After five years, with govt change, the realty sector in Amaravati is witnessing a 'V' shaped recovery in terms of prices.
During the election campaign, Naidu had said that Amaravati would be revived soon after coming to power. TDP national general secretary Nara Lokesh gave more clarity saying his party did not have any plans to change the master plan for Amaravati prepared before they lost power in 2018. He said there was no better alternative to the existing masterplan, and they would stick to the original strategy of developing the city on a self-sustaining model.
Naidu is now planning to complete the trunk infrastructure works and is looking to bring all central government agencies regional offices to Amaravati as soon as possible. This will boost the demand for lands near these institutions and the investors are chasing the prices with fear of missing out.
