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Sun, Sep 22, 2019 | Last Updated 7:28 pm IST

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Distress Sale Begins in Amaravati With Jagan's Silence

Distress Sale Begins in Amaravati With Jagan's Silence
Distress Sale Begins in Amaravati With Jagan's Silence
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The real estate in the AP capital region Amaravati, which was in bloom right till the beginning of the Assembly elections a few months ago, is now in a state of gloom. YS jagan Mohan Reddy's Government has brought all the Government Development Projects in the Capital Region to a Standstill.


jagan Mohan Reddy has been refusing to divulge its plans on the capital region, which had turned a nightmare for apartment builders and realtors. Land rates have dropped alarmingly in the last few weeks. An acre of land that fetched a price of Rs 2 crore three months ago has now depreciated to less than a fourth and is being quoted at Rs 45 lakh. After holding up for some time, the distress sale began recently and there is a lot of anxiety everywhere.


If the government wants Amaravati to be only a functional city, with some administrative buildings, the real estate market will further crash and many realtors might start committing suicide given the kind of investments they have put in all these years. Meanwhile, Ministers are dropping hints about the Capital Change.


Distress Sale Begins in Amaravati With Jagan's Silence
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Nimisha is a typical Hyderabadi who raves about food and films. Formerly a Techie employed with Satyam, she writes about cinema since eight years and as for the other passion, she is a popular food blogger. She completely took her passion as work post the Satyam fiasco. Besides food and films, she is also fascinated to history and cricket.