As Amravati is a developed city, so the price or real estate is on increasing. The projects of builders and developers in Amravati are very nice. For property investment, Amravati is an option.
According to Knight Frank, the strategic location of Amaravati and the proposed infrastructure developments like metro rail in Vijayawada and waterways will ensure that Amaravati becomes a influence and world class city zone.
The property price in Amravathi are likely to see higher per square feet price appreciation. What is the percentage of appreciation is expected and which all localities are expected to get benefited by Amravathi
Since the announcement of the new capital, Amaravati has witnessed a price appreciation of 10-15% and is likely to normalize to 7-8% in the next 5 years
According to the recent report, localities such as Guntur and Vijayawada will be the two major centers that will benefit the most from Amaravati.
Capital values in emerging micro markets of Vijayawada such as Vuyyuru, Auto Nagar, Kannuru and Poranki are in the range of Rs 1,800-7,000 per sq ft. The capital value are between Rs 2,200-4,500 per sq ft, in the upcoming micro markets of Guntur such as Undavalli, Manglagiri and Gorantala.
Well Kunal, Now AP government has 10929 acres in Amaravati mandal, 16000 acres in Achampet mandal, and 6,000 acres in Tadikonda. Apart from govenment land if required private land will also be acquired. For that revenue department is working on compensation package.
@Punnet, It is also heard that developing the city on both side of the river, the government is also looking at operating sea planes in the river Krishna.
The demand for new capital city of Andhra Pradesh was came from Telugu Desam Party general secretary Gorantla Butchaiah Chowdary. He insisted that Amaravati should be made as new capital of Seemandhra, which is convenient for both Rayalaseema and Coastal Andhra Pradesh.
Hi, There are quite a few infrastructural developments that are planned for Amaravati as well... there are plans to built a new bridge between Gollapudi and Mangalagiri which has already been sanctioned and work expected to begin soon.
This bridge is expected to decrease the travel time between Vijayawada and the new city of Amaravati..
Yea, Even i heard this... but i think earlier either Vijayawada or Guntur was expected to be made the new capital... now how come suddenly an altogether new place??
You are right Sridhar... there were many talks and Guntur and Viijayawada are 2 excellent places but it seems that the Land prices are too high as the whole stretch is a very fertile region and so the ancient capital city of Amravati was proposed......
@Sridhar: Pravallika is right and another important factor is that the government already has a good land bank in Amaravati which is enough to build a capital city and will not have to acquire as would have been the case with other cities..