VIJAYAWADA: The deadline to submit applications for plots under the Jagananna Township project in Nuzvid has been extended once again as the response to the venture has been disappointing. The project, implemented by the Andhra Pradesh Capital Region Development Authority (CRDA) and launched on August 19, is struggling to attract potential buyers, prompting authorities to extend the deadline for submission of applications to December 31.
The CRDA had introduced a new layout, targeting the Middle-Income Group (MIG) housing segment, with 393 plots spread across 40.78 acres of land near the Nuzvid RTC bus stand, adjacent to the Mango Garden Research Centre at Nuzvid-Annavaram Road. Only 14 applications have been submitted in the past four months, with fewer than 10 making the required 10 per cent advance payments.
The reasons for the slow response are yet to be identified. It has been learnt that private ventures in Nuzvid, led by realtors, have witnessed higher sales. On the other hand, the Jagananna smart township project in Mangalagiri, which was launched in 2020, has received a positive response with 75 per cent of the plots being sold. Ten per cent of plots are allocated for retired and working government employees.
While working employees get a discount of 20 per cent, retired staff from the same constituency can claim an additional five per cent discount. After scrutinising the applications, APCRDA chooses buyers through an e-lottery. Plot allotment letters are then provided to the buyers within 24 hours. Basavaraju Nagesh Rao, a resident of Nuzvid, highlighted the pricing disparities between CRDA ventures and private developers in various areas of Nuzvid.
“The higher cost and hurdles, such as the development of a shopping complex which will block the road, have deterred potential buyers. The private ventures allow bargaining, unlike the fixed terms of Jagananna Township,” he pointed out. Nuzvid Capital Region Development Authority additional commissioner Aleem Basha maintained that the real estate market in Nuzvid had slowed down.
Clarifying the concerns over a shopping complex blocking the road, he explained that a site had been earmarked so shops, and not a shopping complex, could be established to cater to the needs of the residents. Meanwhile, the Capital Region Development Authority’s new venture in Gannavaram is expected to draw residents from Vijayawada.