Guide for Anantapur Residential Real Estate Investment￼
Anantapur, previously Anantapuramu, is a city in the Anantapur district of Andhra Pradesh. The city is slowly developing as a residential area with multiple local facilities and benefits. It is located on National Highway 44, which has contributed to improving its connectivity. Moreover, its semi-arid climate makes it comfortable to reside here.
According to Census 2011, Anantapur has a population of 359,000. This means that more people have decided to move here for residence. It is close to many reputed educational institutes and offers attractive sports facilities to the residents. The affordable rates of real estate in this area have increased its demand among residents.
Keep reading to get a complete overview of the residential real estate of Anantapur and the current investment opportunity.
Top Reasons to Invest in Residential Real Estate in Anantapur
Here are the top reasons why you should consider investing in residential real estate properties in Anantapur.
- Connectivity & Transport
One of the best features of Anantapur is its connectivity. It is located near NH 44, which is the longest highway in India. Along with NH 205, it connects Andhra Pradesh with important states like Bangalore, Maharashtra, Punjab, Haryana, MP, Rajasthan, etc. Guntakal railway division of the South Central Railway zone and buses from the Andhra Pradesh State Road Transport Corporation ensure good transportation across the state.
- Industries & Employment
Anantapur is growing as an industrial hub, particularly with the entry of Kia Motors. Its favourable weather has enabled Kia to choose this location, which makes Anantapur the eighth-largest automobile manufacturer. Moreover, its proximity to Bangalore also makes it popular for residents who are employed there. The residents here can therefore easily find employment in this area.
- Local Facilities
There are various local facilities and amenities available for the residents of Anantapur. It offers good educational services through institutes like Kendriya Vidyalaya, Montessori Elite EM School, Sri Krishnadevaraya University, JNTU Anantapur, etc. Anantapur Sports Village hosts various sports occasions, including the Ranji Trophy. Healthcare assistance comes from hospitals like MGB Clinics and KIMS Saveera hospital.
Investment Opportunities in Residential Real Estate in Anantapur
If you are planning to invest in residential real estate properties in Anantapur, here are the best residential areas you should consider.
It is a residential sector located near Sri Sathya Sai district of Anantapur. Sri Sathya Sai Prashanthi Nilayam Railway Station makes it easier to connect across the city, while APSRTC buses are easily available. Nearby educational institutes here include Sanskrithi School Of Engineering, MPUP School, Government Jr Collage, etc. Basampalli Hospital offers healthcare assistance to the residents. 2 BHK apartments start from ₹ 24 lakhs here.
It is the headquarters of the Tadipatri mandal in the Anantapur revenue division. Tadipatri Railway Station is the nearest one, offering good connectivity. The nearest educational institutes include Sree Vani School, Sri Chaitanya School, Sri Srinivasa Institute Of Management, Vani Jr College, etc. 7 Hills Kirana stores on CB Road are the nearest marketplace here. You can find 2 BHK apartments here starting from about ₹ 45 lakhs.
A village in the Chittoor district, Palasamudram can be a suitable residential area in Anantapur. The nearest rail station is about 10 km away, and there are multiple bus stops across the area. Shirdi Sai Jr College, SAPS Junior College Gorantla, Sri Sai Prathibha School, ZP High School, etc., are some of the closest educational institutes here. Ashwini Clinic is one of the nearest hospitals. A 3BHK apartment costs about ₹ 58 lakhs here.
- Chinmaya Nagar
This area is again a popular residential spot in Anantapur. It is located near multiple hotels, restaurants and theatres, which makes it a suitable place to live. Some of the closest schools and colleges include Advaitha ECET Academy, Srujana EM School, Mandal Prajaparishat Primary School, etc. Life Home Care Services and University Dispensary ensure healthcare services to the residents. You can find independent houses starting from ₹ 45 lakhs here.
- Syndicate Nagar
Finally, you can choose this place for investing in residential property. Anantapur APSRTC Bus Station offers good transport facilities here. Sage School, Indira School, PRK Junior College For Girls, Madhavi Junior College, etc., are a few educational institutes in this area. Rachana’s Hospital is the nearest healthcare facility, while Hari General Store is the nearest marketplace. You can find residential plots starting from only ₹ 20 lakhs here.
Things to Consider Before Investing in a Residential Property in Anantapur
Investing in the residential real estate sector of Anantapur can be highly beneficial for investors. However, here are a few factors you should keep in mind while doing so.
- Infrastructural Gap
Some areas of Anantapur are facing infrastructural issues. This might be because they are still developing. A poor drainage system in these areas has been causing a situation of flood. Drought and lack of drinking water is also a major issue in these areas. Therefore, you must check and avoid such locations when purchasing a residential property.
- Environmental Issues
Air quality in a few areas of Anantapur is not satisfactory. This is mainly because of the growing industries and their emissions. Moreover, there are traffic issues here, as the town is located near national highways. The emissions from cars can also contribute to this problem. You need to choose a clean location when investing in residential properties.
- RERA Authentication
The government of India aims to monitor the transactions of real estate properties through a statutory platform called Real Estate Regulatory Authority (RERA). Every builder must register his/her property under RERA to make it authentic and legal for sale. You must check the website of Andhra Pradesh RERA to ensure that your chosen property is registered.
Stamp Duty in Anantapur
It is helpful to know about the stamp duty of an area when dealing with its real estate properties. Here are the stamp duty charges in Anantapur.
|Transaction Type||Stamp Duty|
|Lease agreements of less than 10 years||0.4%|
|Lease agreements of more than 10 but less than 20 years||0.6%|
|Construction agreement and GPA||5%|
|Sale of immovable properties||5%|
|Development agreement and GPA||5%|
|Agreement of sale||5%|
|Agreement of sale and GPA||6%|
Registration Charges in Anantapur
Buyers also have to pay a registration charge when purchasing a real estate property. Here are the registration charges in Anantapur.
|Type of Document||Registration Charge|
|Gift deed from a family member||0.5%|
|Certificate of sale||0.5%|
|Settlement||0.5% (minimum of ₹ 1,000 and maximum of ₹ 10,000)|
|Development Agreement and General Power of Attorney||0.5% (maximum of ₹ 20,000)|
|Power of Attorney for Consideration||0.5% (minimum of ₹ 1,000 and maximum of ₹ 20,000)|
|Release||0.5% (minimum of ₹ 1,000 and maximum of ₹ 10,000)|
|Power of attorney to sell, construct or transfer immovable properties||0.5% (minimum of ₹ 1,000 and maximum of ₹ 20,000)|
|Agreement to develop, construct or sell immovable properties||0.5% (minimum of ₹ 1,000 and maximum of ₹ 10,000)|
|Deposit of Title Deeds||0.1% (maximum of ₹ 10,000)|
|Release of Deposit of Title Deeds||₹ 1,000|
Anantapur Residential Real Estate Sector-What’s the Forecast?
Anantapur is a developing name in the field of residential areas. Andhra Pradesh is observing a boom in its real estate sector. According to AP RERA, there has been a growth of 35% in terms of registration for new properties. Moreover, the state government has decided to create accommodation for 31 lakh poor families, which will also add to affordable properties here.
Anantapur is developing as a residential area because of its proximity to Bangalore, which is considered the Silver Valley of India. Moreover, its location is convenient for working individuals, as it is located beside the national highways. Real estate price is affordable in this area, starting from only ₹ 2,125 per sq. ft.
Residential Real Estate Vs. Other Asset Classes
If you are scared to invest in residential real estate, here is a quick comparison between different asset classes for a better understanding.
- Residential Real Estate vs Commercial Real Estate
Commercial real estate properties are different from residential properties since the former are used to run a business. Individuals or groups rent these properties for their commercial activities. Naturally, these generate better rents and returns. However, finding tenants is much easier in residential properties, and they also generate better tax returns.
- Residential Real Estate vs Stocks & Mutual Funds
The stock market has been a popular investment instrument for a long time. Mutual funds are generally reliable, generating impressive returns. However, these can be volatile. The returns can fluctuate with the changes in market conditions. This makes real estate a better investment choice.
- Residential Real Estate vs Gold
The rising price of gold makes it a suitable instrument for both short-term and long-term investment. Most Indian households possess gold items, which can be used as assets in times of need. It is easier to liquidate gold than real estate properties. However, they generate lower returns than real estate.
- Residential Real Estate vs Bonds
Bonds can be good investment options for you if you are a new investor. It helps you avoid the risks of market fluctuations, maintaining a fixed rate of returns. Thus, they are not volatile as the stock market and help to maintain stable ROI.
If you wish to invest in bonds offering stable returns at low risk, you can browse through the home page. Here, you will find top-rated bonds trending in the market.
The following table will give you better clarity regarding the comparison between different asset classes to help you make an informed investment decision.
|Parameters||Commercial Real Estate||Stocks & Mutual Funds||Gold||Residential Real Estate||Bonds|
Steps to Invest in Residential Real Estate in Anantapur
Here are the steps you can follow when investing in residential real estate properties in Anantapur.
Step 1: Define the price you can afford for the properties. Analyse your specific requirements regarding the facilities.
Step 2: Conduct research in a chosen location in Anantapur. Shortlist apartments based on your requirements.
Step 3: Generate feedback and reviews on these. Make a final choice.
Step 4: Meet the seller and discuss the formalities. Consult a lawyer and assess all the important documents.
Step 5: Complete the payments, including stamp duty and registration charges. Get an insurance policy for your property.
Hopefully, that gives you a detailed guide to the residential real estate sector of Anantapur. It is a suitable area in Andhra Pradesh, which offers affordable pricing while offering multiple local facilities. Its proximity to the national highways and Bangalore adds to its ability to employ the residents. Hence, you can choose this place for your residence.
Frequently Asked Questions
What are the best residential areas in Anantapur?
Some of the best residential areas in Anantapur are Puttaparthi, Tadipatri, Palasamudram, Chinmaya Nagar and Syndicate Nagar. They offer good facilities at an affordable price.
What is the price of real estate in Anantapur?
The price of real estate is quite affordable in Anantapur, starting from only ₹ 2,125, which can rise to ₹ 13,333. On average, it costs about ₹ 4,714 per sq. ft.
What is an encumbrance certificate when dealing with real estate?
You need an encumbrance certificate when investing in real estate properties. It is a legal document, which includes land details, ownership, and monetary and legal liabilities. This certificate ensures that the property is free of any financial issues.
Is it beneficial to invest in the real estate of Anantapur?
Yes, it is beneficial to invest in the real estate properties of Anantapur. It is growing as an industrial hub with the entry of Kia Motors. Moreover, it is close to Bangalore, which makes it easier to ensure employment.