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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 in residential property prices in the city owing to the inflow of a huge section of workforce and the ever-increasing demand for living spaces.

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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