Sunday, 1 June 2014

Split boosts Telangana, Andhra Pradesh real estate sector

Real estate transactions in coastal Andhra and Rayalaseema regions, which had been sluggish for the past year, have picked up since March 2014, after the AP Reorganisation Bill was passed in Parliament.  
In the Telangana region, where the business has been moderate for the past 18 months, it has begun to pick up fast in Hyderabad, Ranga Reddy and Nizamabad districts.

Figures from the Seemandhra stamps and registrations department indicate that the highest number of real estate and property transactions was registered in Vijayawada and Guntur, where there is  talk of the new capital being situated.
Growth in the stamps and registration figures was highest in Guntur, at 118.78 per cent, with a total revenue of Rs 1,818.74 lakh in April 2014, against Rs 831.32 lakh in April 2013.
Next are Vijayawada (East) and Vijayawada with 81.29 and 92.09 per cent growth in real estate, with revenue of Rs 1,593.23 and Rs 1,428.04 lakh respectively in April 2014, against Rs 878 and Rs 743.42 respectively in April 2013.Visakhapatnam came next (64.38 per cent), followed by Bhimavaram (60.86), and Kakinada (59 per cent).
In Telangana, though the growth rate was just above moderate, investments were higher. Overall investment in April 2014 in Telangana was Rs 2,828.46 lakh (58.48 per cent growth), while in Seemandhra investment was Rs 2,007.84 lakh with 41.52 per cent growth.
The highest revenue for the stamps and registration department in the undivided state came from Ranga Reddy and Hyderabad (south) districts at Rs 5,827.34 lakh and Rs 2,574.91 lakh respectively.
“Despite political clarity, investors and potential buyers are focusing more on Hyderabad for the reason that the city is in the phase where it’s gradually developing. With major players entering the market, infrastructure in these regions has seen considerable change and similar attention would be given to its other districts as well,” said Ganesh Vasudevan, CEO, of the website Indiaproperty.com.

Source: Deccan Chronicle


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