Donakonda the name that uttered among the people and media circles as new capital of Andhra Pradesh. Many were appeal to Sivaramakrishnan Committee to make Donakonda as Capital for AP. Businessmen and Political leaders were rushed towards Donakonda to make money.
That causes abnormal increase (Real Estate Boom) for the lands in the area. The “boom” suddenly falls down after Chief Minister announced Vijayawada as Temporary Capital. Reportedly, One MP from Rayalaseema region was bought 30 acres of land near Palepalli village and BJP leader in Hyderabad was bought 70 acres in same region. Situation has changed soon after TDP came to the power.
CBN said that would be capital lies in the middle of the 13 districts. Real Estate business again rises when Sivarama Krishnan Committee visited the land in Donakonda for Capital. Temporary Capital announcement has completely reversed the aspirations of the Real Estate Businessmen and Political Leaders. 135 land registrations were occurred between January and August 18th and around 450 acres of land registered in this period. Still another 350 acres of land is waiting for registration. It’s doubtful now whether all land agreements turned to be registrations or not.
Those who bought the land for higher prices are now hoping for announcement of Industrial Corridor and development of Airport in Donakonda.