» Real Estate Visakhapatnam
Visakhapatnam or Vizag, the port city of the Indian state of
Andhra Pradesh is primarily an industrial city besides being
a tourist hotspot. Its serene environment, favorable climatic
conditions and beaches has always been of tourist attraction
but the investment opportunities initiated by the state government
has proved to be of significant importance in transforming the
economic and real
estate prospects of Vizag. Considered as an extension of
the infrastructural development in Hyderabad, Visakhapatnam
can boast of being the privileged city having the potential
advantages to meet the demands of the premier corporates
investing in the city, in the wake of the congestion of residential
and office spaces.
Visakhapatnam predominantly a recognized port and steel plant
has in the recent times evolved into a city with varied infrastructural
developments in the IT and knowledge sector, Pharmaceuticals,
construction, marine infrastructure, steel and chemicals.
With large-scale investments in the IT, ITES and the BPO sector
there has been a great demand for international standards
of office spaces; as Visakhapatnam gears up to promote itself
as the best industrial and knowledge destination of India.
With over 14 IT companies investing in the city, the government
is expecting a rise in growth of IT & ITES exports from
Rs 70 crore in 2004- to Rs 1,000 crore by 2009. While technology
giants like Wipro and TCS are planning to set up expansion
center in the city, Satyam Computers has already laid the
foundation for a technology centre.
Vizag among many other cities in India has been a chosen
city for investments
pertaining to its strategic positioning, good connectivity
to major cities and infrastructural facilities like roads,
building structures and basic amenities. While HPCL (Hindustan
Petroleum Corp. Ltd) plans its next refinery in Vizag, HSBC
has initiated to build a call centre facility here. However,
the best revenue generated is from the real
estate sector, both residential and commercial. As top
developers engage themselves in providing state-of-the-art
built in office spaces there has also been a remarkable escalation
property prices in the city owing to the inflow of a huge
section of workforce and the ever-increasing demand for living
Visakhapatnam however, will offer the best investment opportunities
with the development of the Vizag SEZ and the Gangavaram port.
As per government plans, besides generating direct and indirect
job opportunities due to the investments in the Special Economic
Zone, there is also probabilities for the profits incurred
in the adjacent Hitech City in Hyderabad and Pharma City at
Parwada to have positive influence into the growth of Vizag.
One more addition is to be the $1.2 billion investment by
the German car manufacturer Volkswagen for setting up a car
manufacturing facility in Vizag Moreover, trends show people
are opting for residential properties in Visakhapatnam as
an alternative to Hyderabad real estate, as prices rise exorbitantly.
However, it will not be long for Vizag to catch up, to be
among the elite cities as real estate prices have skyrocketed
in the last couple of years thereby setting the trend to be
among one of the most promising cities for investment in India.
Real Estate Visakhapatnam - Buy, Sell, Rent Properties, Commercial, Residential Land, Plots, Office and Retail space from reputed builders/developers by our qualified real estate agents with extensive experience in Vizag properties.
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