Election Results: Real estate prices in THIS city surge up to 100% in 3 days – Thanks to Chandrababu Naidu
We have seen in the past how election results sway stock markets in India, adding or wiping out investor wealth by lakhs of crores of rupees within a few hours. This time, on June 4th, when the counting of votes for the Lok Sabha election results was underway, the Indian stock market nosedived, wiping out over Rs 20 lakh crore of investor wealth. However, since then, we’ve witnessed a massive revival in stock prices, with the Nifty rebounding over 10% from its intraday lows on June 4th. The jitters among investors were created on election results day after it emerged that the BJP-led NDA would have to settle with a much lesser number of seats than expected.
This was the story of the stock market, but there is another segment, though centred in a particular city – Amaravati, which has immensely benefited from the election results. Amaravati is the capital city of the state of Andhra Pradesh, positioned at the heart of the state on the right bank of the river Krishna in Guntur district. Amaravati’s real estate prices have surged by up to 100% within three days of the Andhra Pradesh assembly poll results and Lok Sabha election verdict on June 4! Want to know why?
Also read: Unchanged repo rate bodes well for housing sector, say property consultants
On June 4, when the Lok Sabha election results were announced, the Andhra Pradesh assembly poll results were also declared. In these Assembly elections, N. Chandrababu Naidu’s Telugu Desam Party (TDP) made a comeback with a thumping majority, wresting control of the state from YS Jagan Mohan Reddy. Naidu’s TDP also secured 16 Lok Sabha seats out of 25 in the state, emerging as a major ally in Narendra Modi’s BJP-led National Democratic Alliance (NDA).
After assuming office as
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