Bhimavaram Realty Boom After Districts Reorganisation, Check Prices

WEST GODAVARI: Land prices in Bhimavaram are shooting up after the state reorganization had taken place on April 4th, with 13 new districts being formed. Bhimavaram which literally means "the gift of Bhima “, is the district headquarters of West Godavari. A thriving city with many educational institutions, corporate hospitals, historical temples, and other establishments in Bhimavaram town.

After the reorganization, the establishment of various government offices in the town, including the offices of the District Collector and the SP has brought many employees into the place. With this, the real estate sector has picked up pace and investors are showing interest in buying land here.

Bhimavaram is known to be an expensive town as it yields dollars in revenue for farmers and aqua traders as the fish and prawns from here are exported abroad due to the expansion of the aquaculture.

Currently, the town is spread over an area of ​​about 14 km. With Bhimavaram becoming the district headquarters it is expected to expand by another 10 km. It is estimated that the state government will need about 10 acres to set up a permanently integrated collectorate and another 15 acres for setting up the SP and ancillary police offices. As the realtors are not aware of where the permanent offices are going to come, they are focusing on the potential areas around the vicinity of the town to purchase land.  

Meanwhile, a cent of land (435.56 square feet) in the heart of Bhimavaram town is now worth over Rupees one crore. A cent of land on Juvvalapalem Road has already been priced at Rs 50 lakh, while prices on Kumudavalli Road have increased from Rs 10 lakh to Rs 35 lakh per cent of land. Bhimavaram is well connected with other places including Vizag, Rajahmundry, Kakinada, and in the country by national highways and NH 216 passes through the town.

The number of land registrations in the two sub-registrar offices at Gunupudi and the taluka office centers in Bhimavaram town is proof of the real estate boom. About Rs 18 crore in revenue was generated in the past three months, with about 1,700 registrations taking place, an official said. A realtor who has been in the real estate business for the past 30 years, said he had been buying land at a low price in the past and was doing  good amount of business. Adding that as  Bhimavaram becoming the district headquarters, it is evident that the land prices would rise and people are willing to shell out huge amounts to purchase land which would further increase the prices, and this would become a problem for small-time real estate traders, he said on the question of anonymity.

Also Read: Here's How the New AP Map Looks Like After Districts Reorganization