Real growth in Vijaywada... real estate marmet

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Real growth in Vijaywada... real estate marmet

  Fri Oct 12, 2018 15:26        APNRT, Associations, అమరావతి కబుర్లు, Business, India, Real Estate, World


Vijayawada or the “City of Victory” lies about 257 kilometers from Hyderabad on the banks of Krishna River. The city is witnessing high growth in terms of its commercial and industrial aspect.

Vijayawada real estate market has emerged as one of the most attractive investment destinations among Tier-II cities in India. With the kind of capital floating into the market, investors have a strong notion regarding Vijaywada to become the capital city in the years to come.

Since, the government has relaxed the norms for FDI in Indian property market and SEBI has given the nod for Real Estate Mutual funds, there has been a lot of stabilization in the Vijayawada real estate market.

With large investments freely flowing, Vijayawada property sector has largely become a sellers’ market, leading to unprecedented prices.

Vijayawada has witnessed around 30 per cent increase in the last 2 years and is likely to see at least 40-60 per cent increase in the next year and a half.

Residential Property in Vijayawada

The residential property segment in Vijyawada is growing both qualitatively and quantitatively. The speed of development in Vijayawada is an indication which is attributed to the emphasis laid on real estate construction and infrastructure. The city is fast embracing the new concepts in real estate such as Residential Townships.

New houses promising highest quality construction are to come up at Vambay Colony, as the present houses have been found to be of inferior quality. The Vijayawada Guntur Tenali Mangalagiri Development Authority (VGTM-UDA) has plans to build more than 76,000 houses in Vijayawada and Tenali under Rajiv Swagruha scheme. The authority has identified 600 acres on land in Nidamanuru, Nunna, Kesarapalli and Kotturu Tadepalli areas on outskirts of the city.

The UDA will also facilitate the development of a Special Economic Zone (SEZ) of Information Technology. The project will come over a 40 acre site at Amaravati Township near Mangalagiri.

Retail Market in Vijayawada

As such, Vijayawada retail market is moving at snail pace but can be seen to catch up the pace in future with the expected entry of brands such as Shoppers Stop and Big Bazar among big names in shopping malls.

To give a head start to the retail industry in Vijayawada, the city’s Municipal Corporation has proposed a multiplex to come over an area of 2 acres of land near Vidhyadharapuram bypass road.

The project envisages serving as a hospitality and entertainment center to be executed on public private partnership basis. The corporation is likely to get 25% funding from the Centre to implement the plans for the proposed centre which will involve an investment of Rs 40 crore.

Big Bazar has already rented out an open site and begun the construction work on Bandar Road. Shoppers Stop and Lifestyle are looking out for suitable spaces along Ring Road.

Upcoming mega shopping malls is definite to give a boost to improve the overall retail profile of Vijayawada and contribute to make it a modern city.

Upcoming Real Estate Projects in Vijayawada

IT Park: An IT park is there in Vijayawada’s pipeline. The project will come up on the 32-acre site at Kesarapalli opposite Gannavaram airport.

Software Park: The District Administration is considering constructing a software park in the entire land belonging to Government Polytechnic College and ITI in the city.

Township: A notable project among upcoming ones here is an exclusive Township to be developed under a joint venture by Arihant Foundations & Housing Ltd. and Vijayawada Guntur Tenali Mangalagiri Urban Development Authority. Involving an investment of Rs 650 crore, the Township will include approximately 4.6 million sq ft. of residential and commercial complex. It is to come up on the Guntur Road located 12 km from Vijayawada.

Corridor between Hyderabad–Vijayawada: The state government has proposed to build a high speed corridor which will reduce the distance between Hyderabad to Vijayawada to just 2 hours. The project is estimated to cost Rs 3000 crore.