Capital gains: Vijayawada set to witness realty boom

September 04, 2014 18:44

Real estate prices are set to skyrocket around Vijayawada following announcement by Andhra Pradesh government that the new capital would be located "near" the second largest city of the residuary state.

The land prices started shooting up in the region after media reports indicated that the area is "being considered" for locating the new seat of power of Andhra Pradesh which lost Hyderabad to newly-formed Telangana State.

A Siva Reddy, Vijayawada chapter President of Confederation of Real Estate Developer Associations of India, said property prices within 25km radius of the coastal city in Krishna district have doubled during the past few months.

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