Whether building capital city might take time, but cashing on the craze around it will not much time. Many players jumped into the game of real-estate business and already constructed apartments in Amaravati, the capital city of Andhra Pradesh.
Rumours are coming that a star Telugu hero has lost nearly 100 crores in a real estate venture as some middlemen tricked him into an unwanted deal. Apparently, this star doesn’t believe investing bulk in real-estate but few people promised him that Amaravati is a hot cake. While the middlemen acquired land from farmers at an affordable price, they sold it to this star at the exorbitant sum. And here is the case.
Despite the fact that the star used all of his contacts to get the sales done, nearly 50% of the project is yet to be sold. The venture would have been successful if the investment is pretty less, but with himself putting 100 crores on land and not willing to construct an inch of it, the loss is going to be bigger.
This is the first time our star has jumped into real estate and maybe he should have taken advice from his seniors about chalking the plans.