Featured Projects Guntur, Andhra Pradesh
Guntur, Andhra Pradesh Property Guide
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Guntur, Andhra Pradesh Real Estate News
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Overview of Guntur in the Real Estate Market
Market Trends and Demand
Guntur is coming to the forefront as a key residential location in South India. It has numerous reasons to attract buyers:
- There's been a significant increase in people searching for homes in Guntur, up by 38.27% each year. So, more people want to live here.
- Compared to big cities like Hyderabad, Chennai, and Bengaluru, Guntur's housing costs are much lower.
Property Prices
- The average price for residential spaces in Guntur now stands at INR 4962 per square foot (psf), with a yearly increase of 3.27%.
- Prices range quite a bit, from a minimum of INR 250 psf to a high of INR 38,011 psf.
Localities and Property Types
Guntur has many areas with different types of housing:
- Key Localities:
- Amaravathi: Home to upscale properties priced between INR 18 lac and INR 56.11 crore.
- Namburu: Features properties priced from INR 6.75 lac to INR 4.5 crore.
- Vidyha Nagar: Offers prices from INR 50 lac to INR 10.28 crore.
- Gorantla: Has properties ranging from INR 42 lac to INR 1.42 crore.
- Mahatma Gandhi Inner Ring Road: Available from INR 25 lac to INR 1.27 crore.
- Property Types:
- Plots come in different sizes, starting from INR 6 lac to INR 56.11 crore.
- Apartments start from INR 25 lac to INR 10.28 crore.
- Villas are priced between INR 1.08 crore and INR 2.31 crore.
- Independent Houses range from INR 65 lac to INR 2 crore.
Infrastructure and Development
Guntur is experiencing quick urbanization, with significant infrastructure projects happening:
- Government drives are creating new industrial areas, enhancing transportation, and working on smart city projects.
- Its close ties with Amaravati, the new capital of Andhra Pradesh, promise easy access to upcoming developments.
Supply and Demand
- Although demand keeps rising, the number of properties for sale hasn’t grown as fast, causing a steep drop in listings. This causes a mismatch between demand and supply plus escalates prices.
- Residential listings have dipped by 22.57% each year, making the supply-demand discrepancy worse.
Investment and Buying Considerations
The market shows that buying and selling homes can be beneficial in Guntur due to the demand surge and limited supply:
- Buyers and investors should keep up with evolving market trends and property shifts to make smart choices.
PropertyWala's Conclusion
In summary, Guntur offers a promising market for buying and investing, thanks to its affordable housing, infrastructure projects, and government plans. However, the current challenge is the demand-supply gap and higher costs, making it a tough market. Future buyers should pay close attention to market trends and be ready to jump on opportunities as they come. With diverse areas and various property types, Guntur caters to different budgets, making it a good spot for those planning to buy into the local real estate scene.