AP,AP Capital,Thullur,Nuziveedu,Real Estate,Real Estate Bubble,AP Capital Bursts,AP Capital region
The sudden burst of real estate bubble at AP Capital region dashed the hopes of several families leaving them in despair, financial crunch. The suicide of a noted realtor Vijay Kumar says it all. Unable to cope with the pressure from financiers, Vijay Kumar from Ramavarappadu of Vijayawada committed suicide who apparently took Rs 40 Lakh from financiers and invested in it in Nuziveedu expecting that it'd be the new capital of AP. Although Vijay was paying over Rs 1.2 Lakh interests every month to money lenders, he couldn't cope with their pressure and gave up his life. Vijay Kumar's case is not just one as it's mostly same with many others who brought lands, flats in Nuziveedu. The lands which costed at Rs 1 Crore to Rs 1.5 Crore per acre soon after bifurcation have now dipped to Rs 30 Lakh per acre pushing the investors into neck-deep trouble.
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