The Real-Estate Prices in Amaravati are undergoing the much-needed correction but then, the recent change of government in Andhra Pradesh has led to falling in real estate prices in the capital region. jagan earlier opposed Amaravati as the Capital and there are rumors that jagan may shift the capital.
Aiding to those rumors, there are reports that jagan wants to develop Donakonda as a major industrial hub and shift a majority of the projects from Amaravati to this hub. Several YSR Congress party leaders have been buying lands in a big way in and around Donakonda. Land Rates are soaring in the area as a result.
Donakonda was suggested as the capital region by Sivaramakrishnan Committee appointed by the Centre to identify the capital for the new state of Andhra Pradesh after bifurcation of the combined state. There is a huge tract of government lands in the area which would ease the burden on the government for constructing the Capital.
