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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