Realtors create artificial boom for private lands in Penukonda

Penukonda (Anantapur): Realtors taking advantage of the publicity on new industrial projects are creating an artificial boom to private lands in Penukonda.

Hundreds of crores worth industrial projects are going slow and people's representatives are evincing little interest in ensuring the fast-tracking of industrial projects post-covid situation.

National Academy of Customs, Excise and Narcotics is another institute planned in 500 acres at a cost of Rs 600 crores near Gorantla in Palasamudram mandal. This is the second one in the country after the Faridabad institute in Haryana state. This was announced in 2015 as part of AP Reorganization Act but nothing is being heard about it. Realtors are artificially creating reality boom showing these mega-projects. Kia Automobiles, of course, played its role in giving an economic facelift to the overall economy of Penukonda and around.

BHEL and Airbus projects are the major ones which were already announced in the region. Bharath Electronics Limited (BEL), a Central government public sector project costing Rs 750 crores in the sprawling 1,200 acres was proposed in Palasamudram mandal in Penukonda region. Land had already been allotted for the project Veera Vahana Udyog Private Limited which is in the business of manufacturing premium buses in Bangalore city, has entered into an MoU with the state government to set up a manufacturing company in rural Gudupalle in Somandepalle mandal in the district, sources said. APIIC Zonal Manager Ranjith told The Hans India that 50 acres of land have been earmarked for the project against its request to allocate 120 acres. The Rs 600 crore project will be established in two phases. In the phase-1, 5,000 buses will be manufactured per year and in the phase-2, 2,000 mini-buses will be manufactured. The project is expected to generate 7,000 jobs.

The industrialisation of Penukonda had opened avenues for the establishment of restaurants, coffee houses and lodges and motels and transport companies and heavy machinery equipment carriers apart from Kia showrooms and automobile repair workshops. There was also a sudden surge in demand for housing and business establishments.

Taking advantage of the latest developments, realtors and politicians purchased huge chunks of private lands and even agriculture lands for conversion into house sites and housing layouts. All said and done while real estate prices are skyrocketing industrial development although promising does not match with the announcements and the hype created by agencies concerned.