Curation Team
VIJAYAWADA: After about five years of lull, the stagnant real estate sector in Andhra Pradesh seems to be showing some green shoots. Land transactions have increased across the state as buyers are showing renewed interest in investing in real estate. The increase in revenue from stamps and registrations indicates that realty sector is gaining momentum.
The stamps and registrations dept registered a 46% growth in revenue during the first quarter of the current financial year, when compared to the corresponding period of 2024. The year-to-date growth also stands at 39%, indicating a decent recovery for the real estate sector.
As clarity emerged on Amaravati with launch of works worth Rs 50,552 crore, investors, who were in a wait-and-watch mode, have started showing interest in the capital. The first quarter data suggests that Amaravati is driving the realty sector as Krishna, Guntur, and Palnadu top the list of districts in terms of number of transactions and revenue earned.
This comes even after a spike in land prices in and around capital Amaravati. Sunil Nutakki, a realtor from Vijayawada, said the transactions slowed down because of a sudden increase in land prices after the 2024 elections. Though prices in Amaravati continue to be on the higher side, developers and investors are exploring areas where prices are affordable with better prospects in the future.
Besides Amaravati, there has been an increase in the number of transactions in cities like Guntur, Nellore, Tirupati, Visakhapatnam, and Kurnool. Areas where new projects were announced are also in demand, as buyers are showing renewed interest even in rural areas. The steps taken by the state govt to increase demand in the realty sector are also contributing to the growth, said A Vishnu Vardan, another realtor, adding that the easing of many rules regarding layouts and buildings by the state govt has also contributed to the growth. Once the govt’s decision to abolish NALA conversion fee comes into effect, there will be a further increase in the number of transactions, he added.
