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New Capital Buzzmakes Mangalagiri Hotspot

Amaravathi Capital buzz makes Mangalagiri hot spot

Even as look for a brand new capital for the residuary State of Andhra Pradesh has not nonetheless begun, Mangalagiri in Guntur district has currently become a hub for many real-estate businessmen across the State.

As speculation is rife over creating Mangalagiri capital for the residuary State, businessmen and industrialists, particularly from Hyderabad, area unit thronging the realm to enquire regarding availableness of land beside its price. several businessmen from Hyderabad area unit driving all the way down to this space on Sundays to check out business prospects.

On a median, near fifty individuals from Hyderabad, Vijayawada, Visakhapatnam, Guntur, and Warangal, among others areas, area unit visiting Mangalagiri to measure the heart beat. Some area unit inquiring for the land conterminous the National road (NH)-5 connecting Vijayawada and metropolis et al. area unit evincing interest to shop for agricultural land many kilometers far from the NH-5.

“At gift, major land transactions aren't happening here. individuals area unit solely coming back to check the land and verify the value,” says a real-estate agent Mr. Srinivas Rao from Prime Galaxy Mangalagiri.

He explains that the value of associate degree acre is currently starting from Rs.1.3 large integer to Rs.3 large integer on the margin as against Rs.60 large integer to Rs.1 large integer 3 months agone. the value of a area unit is currently Rs.12,000 as against Rs.8,000 in Gregorian calendar month 2013, he says.

Another reason for increasing land value is that Mangalagiri is a component of Vijayawada urban agglomeration and s situated between Vijayawada and Guntur on NH-5 going towards metropolis, says Mr. Srinivas Rao. It’s hardly 20 kilometer drive from Vijayawada.

When contacted, Confederation of assets Developers’ Association of Asian country (CREDAI) president  says, “It’s too early to take a position once the govt has not set regarding the new capital for Seemandhra. individuals ought to use caution whereas investment.”

Sources say names of Mangalagiri, Ongole, Vijayawada, Visakhapatnam, and Tirupati areas do the rounds to develop them as capital.