Why should one invest in properties in Vijayawada?
Being the third largest city in the state of Andhra Pradesh, the city enjoys great connectivity and is blessed with an industrial belt that is growing by the day. With several MNCs now recognizing Vijayawada’s potential- the city is moving towards becoming a global city.
Apart from this, the presence of fertile land and rapidly developing infrastructure are some of the factors that are luring many to invest in properties here.
Are infrastructure developments driving the realty demand here?
Development came to this city during the British era. It has gradually became a modern city. And with the city being a major transit point, several infrastructure projects are in the pipeline that will help strengthen it further. The six-laner linking Vijayawada to NH 5 along the Gundugolanu section will reduce travel time drastically and has thereby developed peripheries like Gundugolanu. The completed BRTS (Bus Rapid Transit System) has linked several corridors and has attracted several investors to invest in properties near the bus stations.
Apart from this, the STPI (Software Technology Parks of India) project and the expansion of the Gannavaram Airport has enticed many to shift base here.
What is the minimum amount required for an individual to buy a property in Vijayawada?
On an average a 1,000 square feet apartment here is cited to cost INR 20 lakhs. Active residential catchment areas like Nunna, Payakapuram and Edupugallu offer many housing units that fall within this price bracket. As far as the residential plots are concerned, sub localities of Vijayawada like Gannavaram, Ibrahimpatnam and Kanchikacherla all offer 1,000 square feet land at an average of INR 4 lakhs. So if you are first time property seeker with a limited budget, Vijayawada is the place for you.
What are the top 3 residential localities in Vijayawada?
Along the eastern region many areas like Kanuru Road, Poranki and Sanath Nagar are considered to preferred localities, while in the central region Benz Circle has caught the attention of many buyers. Capital values of apartments here are cited to hover anywhere between INR 3,100 and INR 3,850 per square feet. The prices are likely to vary depending on the amenities and facilities provided by the property developer.
Where can one buy affordable plots for sale in Vijayawada?
Although property values of land across the city have witnessed a major escalation, many neighbourhoods like Ibrahimpatnam, Kanchikacherla and Gannavaram all offer residential plots for prices ranging from INR 500 and INR 600 per square feet. Many local and national property developers are now purchasing several tracts of land due to minimal prices and are building many townships and gated communities. Off shore investors and local second home buyers are now purchasing plots due to its high return on investment.
Image: “Krishna River Vijayawada” by Subhash Chandra from Bangalore, India – Prakasam Barrage. Licensed under CC BY 2.0 via Wikimedia Commons – https://commons.wikimedia.org/wiki/File:Krishna_River_Vijayawada.jpg#/media/File:Krishna_River_Vijayawada.jpg
Nidhi C Thacker for IndiaProperty.com