Many high networth individuals and realtors from the district who invested in the Amaravati region are worried about their investments, according to sources.
Many doctors , auditors and businessmen of Vizianagaram have bought lands in Nuzvid, Gannavaram, Amaravati region and Vijayawada after 2014 anticipating huge and quick returns. Many public representatives also are said to have bought lands as well as flats and villas in many ventures between Vijayawada and Guntur. Some of them reportedly sold their prime properties in Vizianagaram and surrounding places and invested in the capital region.
“Establishment of Executive capital in Visakhapatnam is a welcome step as a citizen of Vizianagaram. But as an investor, it is a big jolt for us,” said a doctor.
Many associations that have jointly bought properties in Vijayawada are also unhappy with the decision of the government. Along with Amaravati farmers, they are also eagerly waiting to know the government’s move over the three capitals proposal.
