Real boom fetches record revenue in AP

Residuary Andhra Pradesh is witnessing a real boom as the state is witnessing a record 37.51 percent increase in revenue from land registration in the first half of the current financial year. The revenue started increasing from April this year. The real boom is not only confined to Krishna and Gunturs district where the capital is coming but also spread to other districts such as West and East Godavari, Visakhapatnam, Prakasam, Nellore and Chittoor.

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The income from land registration has touched Rs 1,809.45 crore in the first six months of the current financial year. It was Rs 1,315.87 crore during the same period last year. Interestingly East Godavari (EG) stood first with the highest income of Rs 321.4 crore. The state government recently also increased the market value of the land in the state which also contributed to this growth.

Real Estate builders are swarming to AP to cash the real boom. In fact, Several big ticket real estate companies from New Delhi, Mumbai, Ahmedabad, Chennai and Bangalore have approached the state government with proposals to take up large housing projects. Visakhapatnam, Vijayawada, Guntur, Nellore, and Tirupati are seeing many such housing schemes coming up.