Amravati's Resurgence: TDP's Victory Revives Capital City Ambitions

Amravati's Resurgence: TDP's Victory Revives Capital City Ambitions

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BusinessToday.In
  • Updated Jun 6, 2024 12:11 PM IST

 

Nestled on the banks of the Krishna River between Vijayawada and Guntur in Andhra Pradesh, Amravati is once again in the spotlight. Following the recent electoral victory of the Telugu Desam Party (TDP), the small town with big ambitions is gearing up for major developments. Chandrababu Naidu, currently negotiating in Delhi for significant representation in the union cabinet, is expected to resume work on building the state capital in Amravati. He had originally designated the town as the capital in 2014 when Andhra Pradesh was bifurcated, but progress halted when the government changed in 2019. With the TDP back in power, the plans for Amravati are being revived. The TDP's victory has led to a surge in property prices in Amravati, with rates soaring by 20 to 30 percent in recent days. This mirrors the first property rush in 2014, when Prime Minister Narendra Modi laid the city's foundation. Speculators invested heavily, anticipating substantial returns from the greenfield project. As Andhra Pradesh currently lacks a formal capital, investors and officials are hopeful that the new capital will soon materialize, marking a significant milestone for the state.

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