The Realtors and even farmers of Amaravathi are having sleepless night. The real estate market in the region became more volatile than the stock market once the capital is announced there. Farmers have seen skyrocketing prices earlier and in the last few months there is a slowdown of economic activity there.
[m9ad]
Investors are waiting for a price correction while farmers are holding up the high prices. However they could not hold it more. The recent budgetary allocations of Amaravathi came as a huge shock to them. The Union government allotted Zero Rupees to Amaravathi construction even though it is entitled to fund the entire government buildings.
Suddenly there are doubts all over Amaravathi happening and the land prices have fallen down. Farmers say they only look at Chandrababu in this crisis but also doubt how he would pull it off given the extremely difficult conditions existing in the state after the bifurcation. On the other side, government will begin allotment of developed plots to farmers by this month end.
