Unexpected Hit to Amaravati Real Boom

The Real Boom that has emerged in Amaravati after the AP Secretariat, AP Legislative Assembly and Council in Amaravati shifted to at Velagapudi has taken a sudden halt now. Nearly 6000 structures of various types like individual houses, apartments, and complexes are under construction in the area.

[m9ad]

They have come to a grinding halt due to the abnormal increase in cement prices. Besides cement price hike, the increase in the price of steel to Rs 42000 to Rs 45000 per ton (depending on quality) is also a matter of concern.

Several new constructions which were expected to start in April to July, due to the availability of finances and funds to farmers, traders and employees have stopped now. They are not showing any interest in taking up construction activity, deterred by the increase in cement and steel prices.