Real Estate Boom in Vizag
Visakhapatnam is Located in Andhra Pradesh on the Eastern shore of India.This port city is soon turning into an industrial hub of the East Coast of India. Visakhapatnam may be a beautiful city with majestic hills, valleys and golden beaches along the Bay of Bengal coastline.
The large-scale land developments in Hyderabad, the town of nawabs is almost on the verge of completion. Next in line for land boom is Visakhapatnam popularly called ‘The Jewel of the East Coast’. It’s the house of the Eastern Naval Command of the Indian Navy and has been thus, the only port within the country. Vizag is carving its position because subsequent IT hub of Andhra Pradesh after Hyderabad at a fast pace.
Today is that the time of development for tier-III and tier-IV cities as metros are congested and tier-II cities are almost choked too. Visakhapatnam has become an important upcoming city for the Eastern India because IT industries are now swiftly entering within the town. Vizag offers easy availability of skilled labour, infrastructure and cost-effective land making it all the more attractive for industrial setups.
The boom in property building and thus the resultant hike in property prices have made this city a favorite with land developers. The sky rocketing prices of land in Hyderabad and lack of land for further expansion shifted the attention of realty developers to the present port city of Andhra Pradesh. Not just this, the development of technology sector i.e. arising of software companies and SEZs within the town further spiralled up the interest of property investors. Various different projects by means of leading builders are incliding to the improve in Visakhapatnam property.
Visakhapatnam is witnessing an unprecedented growth thanks to all the above factors. It’s been welcoming this quick appreciation of land rates from quite last five years. The growing NRI investments in luxury villas, apartments and farmhouses within the green environs of the town are also adding further to the growing land prices.