With the State government proposing to carve out a separate Suryapet district , the town have seen an abrupt rise on the prices of properties. The prices of plots jumps by 40 to 60 per cent within a period of six months.
The words of the Minister for Panc hayat Raj and IT K Traka Rama Rao have literally given a boost to the real estate sector in the town. Suryapetnmust be made thr headquarters of the new district, Rao added.
In the radius of 5 km within the town, several real estate ventures have come up and the residential plots and constructed houses are selling as hot cakes. Taking advantage, the realtors have increased the prices of the plots to make money.
The two bedroom flats are costing between Rs 25 lakh to Rs 30 lakh. As Suryapet is a town through which the national highway is passing and as it is also a major business centre.