Amaravati expected to be new capital of Andhra Pradesh
After prolonged deliberations with regards to zeroing in on a feasible capital to be developed for the divided state of Andhra Pradesh, it is expected that Amaravati would ultimately get the nod. This was disclosed by a senior minister in the Chandrababu Naidu cabinet as well as from other reliable government sources. This move got the approval of Naidu as he was in favour of developing a capital city on either side of the Krishna river. Incidentally, Amaravati also has a historic relevance in that it was part of the erstwhile Satavahana dynasty. Moreover, there are also numerous Buddhist relics as well as a stupa erected during Ashoka’s reign.
Real Estate impact
The development of Amaravati as the capital of Andhra Pradesh is expected to have a tremendous impact on the real estate market here considering that land prices here are considerably lower. Besides, there are large expanses of government land here that is required to build a new capital city. This prompted the CM to reverse his earlier decision to go with Mangalagiri, considering that land prices there are on the upper side. If required, the government was no averse to seeking private land as well.
Considering that Amaravati is in Guntur district, which is on one side of the Krishna river, plans are already being sketched out so as to link a few mandals on either side of the river, in Krishna and Guntur districts. To facilitate this, a blueprint is being prepared for a six-eight lane bridge connecting Kanchikacherla in Krishna district and Amaravati in Guntur district. This will have a tremendous impact on the realty market in those mandals which are being connected on either side of the Krishna river.
Moreover, due to the fact that Vijayawada is already a prestigious city in the Andhra region, plans are also being put in place so as to facilitate better connectivity between Vijayawada and Amaravati. To meet this end, a bridge is being planned between Gollapudi and Mangalagiri, thereby reducing the travel time between these two cities. This is expected to have a major impact along the corridor connecting these two cities, which could probably be developed into an IT corridor. As a result, the residential realty market along this corridor will also experience an upswing, leading to many prominent developers coming up with residential projects.
