Prakasam’s Real Estate down to record levels!

The Real Estate in Prakasam district is hitting all time low with the district losing in capital race. Earlier Donakonda is said to be the front runner and the realtors have invested a lot in and around the area but with the capital announcement coming they only burnt their fingers.

Andhra Pradesh Chief Minister Chandrababu Naidu has announced the government’s intention to make Donakonda a logistics hub did not help in anyways. There are rumours that YSR Congress leaders heavily invested in the area. And the normal real estate sentiment is that TDP government will not allow the development of such region which benefits the opposition. Hence there is no improvement.

Revenue from property registrations of the region is a mere Rs. 58.43 crore so far as against the target of Rs 125.97 crore for 2014-15 fiscal in Ongole region. There are no takers for even for prime property in Prakasam district, barring the Martur area close to Chilakaluripet and there is no signs of revival in the near future.