- The construction sector lost a lot in five years.
- Realty industry in whirlwind of problems
- Positive atmosphere with the formation of the new government
- Amaravati Realty towards development!
- Better to invest in those areas.
- Total Credai chapters in AP.. 20
Fallen prices are up again!
In the last five years, the prices of plots in the surrounding areas of Amaravati have fallen drastically. Due to this, both real estate companies and people who got plots were disappointed. From 2014 to 2019, in the VIT area, the yard price was Rs 25000. Such fell to five or six thousand. There is a possibility that the current price will go back to the old price in the backdrop of a changed government. After a year, construction activities will gain momentum. * In the past, when TDP was in power, it built some quarters in areas like Mandam and Uddandarayunipalem near Seed Capital. About 80 to 90 percent of the construction work undertaken to accommodate judges, MLAs, MLCs, IAS, and IPS officers has been completed. They were not completed by the previous government. If these are completed, there is scope for increasing activity in those areas.There are gated communities…
The Vijayawada real estate market has remained stable in the last five years. Those who thought to set up a permanent residence bought flats in this area. However, the momentum it had during the TDP's regime was not seen in the last five years. In areas like Kanur and Poranki on Bandaru Road, double-bedroom flats were sold for fifty to sixty lakhs. Flats were available for fifty lakhs till Kankipadu. All the way to Gannavaram Airport on Eluru Road, flats were being sold here and there for four thousand per square feet. Gated community projects and luxury villas are being constructed from Kesaripalli, Poranki to Nidamanur, Vijayawada, and nearby areas.New Govt must resolve these!
The previous government has not paid much attention to the problems faced by the construction sector in the last five years. There is no focus on their solution. The sand policy, which was under the previous TDP government, should be revived again.TDR bonds should be given to those who have lost land on master-plan roads. Relaxation should be provided in setbacks throughout the entire floor area.
The previous government prepared a new road development plan. Otherwise, it is not fully implemented. As a result, TDR bonds were not sanctioned. That's why many people were reluctant to give land in expensive areas. There were irregularities in the issuance of TDR bonds in Tanuku, and about one thousand files were not cleared. In this order, what the new government should do is remove the road development plan and implement the old plan.
The decision to levy an impact fee on commercial complexes constructed in the area of sixty feet of road should be withdrawn.
In the past, the demand to reduce open space charges from 14 percent to 7 percent in non-layouts was unsuccessful. We hope that at least the new government will take a positive decision on our request.
Nala charges are 2 percent in urban areas and 3 percent in rural areas. This was increased to five percent by the previous government. These charges should be decreased to three percent.
In an area like Mumbai, reducing stamp duty and registrations has brought considerable revenue to the government there. Keeping in mind the losses incurred in the last five years, the new government should reduce the stamp duty and registration charges. Due to this, the number of registrations will increase, and the government will get more income.
The vacant land tax of fifty percent should be reduced.
Facilitation of trade should be implemented in permits. For this, a single-window system should be implemented, and a system for collecting all the fees should be introduced. This saves time for the builders. Walking around the government offices will be avoided.
Master plan roads should be developed in Amaravati or Mangalagiri. Facilities like electricity and drainage should be included.
The work on residential and commercial buildings constructed by the government should be handed over to private builders. If government development work is handed over to experienced developers, quality work will be completed on time.