The first statement of AP CM designate YS Jagan Mohan Reddy about ‘big land scam’ in Amaravathi during TDP regime, which will be probed by YSRCP government has led to ‘real estate crash’ in Amaravathi.
Jagan’s statement turned out to be a blessing in disguise for Telangana State, as it fuelled ‘real estate boom’ in Hyderabad.
Seemandhra investors or people in Hyderabad preferred to invest in Amaravathi real estate all these years with a hope that it would fetch huge returns in future.
However, with TDP wiped out in recent Assembly polls and YSRCP gaining power with a thunderous majority, has changed the real estate scenario in AP all of a sudden.
With Jagan terming AP’s new capital Amaravathi as a ‘big land scam’ and that his government will expose the scam over how TDP leaders benefitted out of Amaravathi ‘land pooling’ scheme by ordering suitable inquiry, uncertainty gripped over the future of Amaravathi.
With this, investors are shying away from making investments in Amaravathi as they fear whether Amaravathi will remain as capital or not.
Instead, they are preferring to invest in Hyderabad and surrounding districts in Telangana.
With this, land prices around Hyderabad are skyrocketing all of a sudden.
Hyderabad witnessed realty boom during late CM YSR’s regime between 2004 and 2009 as many Seemandhra investors invested in Hyderabad realty.
However, after YSR’s death in 2009 and subsequent Telangana statehood agitation between 2009 and 2013, the realty prices crashed in Hyderabad.
With the return of YSR’s son Jagan as CM of AP, the Hyderabad is once again witnessing realty boom.
The Telangana government is happy at this development as it will get richer due to increased income on account of land registrations.
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