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Demonetisation Hit AP’s Capital Badly - Tollybeats

Demonetisation Hit AP’s Capital Badly

Updated | January 12, 2017 00:19 IST

Demonetisation has not only hit common people but also governments alike. But the biggest hit has been to Amaravati, the dream capital of Andhra Pradesh.

The land rates were astronomical in Amaravati n the capital city’s epicentre Tullur, 1 acre of land used to cost at least Rs.3 crores as against Rs.8 lakhs before Amaravati was made the state’s capital.

For good development ample amount of cash flow is needed, but demonetisation is now the root cause of no better development. Private party investments have dried up completely, further resulting in issues like no new real estate ventures, lack of companies and prevailing unemployment.