Realtors in AP Capital Region struck by Reality

With Chandrababu announcing the state capital coming in Tullur and surroundings, it was a real estate frenzy all over in the region. It is said that nearly 6000 Crore flew in to the region as every one from big realtors to common people trying to own a piece of land in the upcoming capital of the state.

Many of the lot expected to make lot of money as the boom expands. But it all turned topsy turvy as things are not moving on expected pace in the region. In Tullur region, during the early days, an acre was sold for Rs. 1.5 crore to Rs. 1.75 crore but is now available for Rs. 70 lakh – Rs 1 cr.

Experts say that the correction is inevitable as World Class capital will not arrive over night. They say the prices may increase once the capital construction takes pace but not on par with the intial boom. It is said that the foundation stone for the capital will be laid in the second week of May.