Residential Property in Visakhapatnam: Vying for a beachfront location, builders in Visakhapatnam are coming up with luxury apartment and villa projects to meet the needs of the sophisticated domestic and NRI investor.
Some of the upcoming residential properties in Visakhapatnam include the Sea Breeze Villa on Beach Road by Sobhan Developers, Royal City Project by Datla Homes and the Uplands Palace in East Point Colony near the beach by Pallavi Constructions. Seshadri Nagar at Pendurthi is another project in the pipeline.
At Madhurawada, two and a half kms from NH 5, VUDA is putting up a sprawling township, providing for 2000 units in the high and medium income category.
Commercial Property in Visakhapatnam: The Visakhapatnam Special Economic Zone houses around 20 multi-product industrial units within the 360 acre campus located 24 kms away from the city on the 4-lane Golden Quadrilateral highway
The Vizag City Centre by SBEC projects for Satyam Computers is under construction on 1.75 lakh sq. ft. Infotech Enterprises is also working on a 5-acre plot in Rushikonda with an investment of Rs.30 crore. Biocon has selected Vizag for its Rs.1,000 crore manufacturing facility at Jawahar Pharma City. An indigenous car project in Vizag is also on the anvil after the Volkswagen project fell through.
Keeping pace with Hyderabad in its quest for industrial growth, Visakhapatnam is sponsoring mega projects like the Apparel Park, Garment city, IT Parks, Pharma City, Ceramic City, Education district, a petrochemical complex, an aluminium plant and a Costa Corridor. With such large scale investments in the pipeline, Visakhapatnam’s real estate market is set for big time. As the city gears for a Greater Visakhapatnam status, investors looking for budget investments would find this a tempting market.