Now, Land Rates in Donakonda So Hot

Now, Land Rates in Donakonda So Hot

Since last evening, Botsa's hot comments on AP capital city Amaravati and how it is "not safe" has triggered a big debate. Citing Sivaramakrishnan Committee report, Botsa had stated that the state cabinet will soon "discuss" on its policy. This is enough for the speculations to take off.

Right now, the lands in Donakonda of Prakasam district have become hot property and the land rates have shot up with the news of government's rethinking on the capital city. The land which costs around Rs 1 Lakh to Rs 2 Lakh per acre has now shot up to Rs 15 Lakh per acre. Locals are happy with the price hike.

However, this is not the first time the land rates in Donakonda have shot up. Earlier too when AP capital city was not yet finalized, Donakonda was one of the options for the capital city. The availability of lands in large numbers has prompted many to speculate that the government would go with Donakonda. The land rates had witnessed big hike in Donakonda back then. In fact, the Sivaramakrishnan Committee had recommended Donakonda and suggested that it would be a viable option. However, Sivaramakrishnan Committee was against to the Capital in Krishna and Guntur owing to the thriving agriculture business and cited environmental and economic concerns against having capital in Krishna, Guntur.

Now that the topic of the Sivaramakrishnan Committee report is back with Botsa, the land prices in Donakonda have once again hit the sky. One has to wait and see, what would CM YS Jagan would comment once he returns from the US trip. As of now, realtors in AP are clueless on where to invest and how to continue their business. Already, real-estate business in AP has hit rock bottom and realtors are in doldrums with poor sales and inventory being pile up. This is very tough situation for realtors in AP.