KURNOOL: Orvakal airport and the judicial capital proposal have triggered a realty boom in the district. The greenfield airport at Orvakal on the outskirts of Kurnool city is set to commence operations next month. As part of the three-capital plan of the State government, the High Court is likely to come up on Kurnool-Nandyal Road. Hence, the land prices in Kurnool and Nandyal have skyrocketed.
The industrial corridor and the outer ring road have also resulted in the spurt in the real estate activity on Bengaluru highway (Kurnool - Anantapur Road). Apart from Kurnool-Nandyal Road, rapid development is also being witnessed on Kurnool-Bellary Road with the proposal to construct a six-lane highway connecting Pune. Agriculture lands located adjacent to the main roads on the outskirts of Kurnool are being sold at Rs 4 crore per acre now.
“Several real estate ventures are coming up on the outskirts of Kurnool. The cost of house sites range from Rs 5 lakh to Rs 15 lakh per cent. Newly constructed houses are priced in the range of Rs 50 lakh to Rs 1 crore. Flats in the newly built apartments cost Rs 2,000 to Rs 4,000 per square feet,” said G Nagaraju Yadav, a realtor.
Prices of flats and house sites have gone beyond the reach of middle class and salaried people in Kurnool and its suburbs with the real estate boom. The realty activity is more within 25 km radius of Kurnool city.
Flats in real estate ventures coming up on Nandyal Road, Anantapur Road, Nandikotkur Road and Bellary Road are somewhat affordable, said M Nagendra, a private employee.
KJ Reddy, managing director of Raaga Mayuri Builders, has a word of caution for the prospective buyers of house sites and flats. He advised them to verify the layouts and building plans before buying a plot or a flat as several ventures do not have requisite permissions from the town planning department.
The registration of land has slowly picked up in the district after the Covid-induced lockdown, Registrar E Naga Bhushanam told TNIE. “In the last two months, we have crossed the monthly registration target. Kurnool revenue division is expected to realise the registration target of Rs 265 crore for the current fiscal with the realty boom in recent months,” he said.
Hectic real estate activity
B Tandrapadu, Nannur, Sakunala, Gani, Thippayapalli, Guttapadu, Pasupula, Rudravaram, Hussainapuram, Kalvabugga and Orvakal located on the outskirts of Kurnool city, villages adjacent to Kurnool-Nandyal Road, Amaravati Road, Bengaluru Highway and Bellary Road have been witnessing hectic real estate activity for the past few months with several new ventures