As far back as the arrangement of the new province of Telangana, fortunes of Vijayawada have improved. The government of Andhra Pradesh reported that post-Hyderabad, the new capital will be found near Vijayawada, which has prompted a mad rush in investments and a lot increment in the property costs in the city. Such has been the ascent that in the most recent year alone, Vijayawada land costs have gone up by as much as 25%.
Amazing Property Prices
The costs have shot up so much they really add advantage to the people having properties there. We can find high rises in properties in some particular areas of the city like Bandar Road, Gannavaram, and Mangalagiri as the Government also proposed plans to construct their offices at these locations.
Rising NRI Investment in Vijayawada
The main explanation behind the expansion in costs has been the interest of Non-Resident Indians (NRI), and also enormous ventures from rich nearby agents and proprietors of transport organizations. Because of the ongoing slowdown and high expansion, numerous land markets have been dull and seen fewer ventures. Be that as it may, NRI ventures saw an upward pattern in Vijayawada land, adding up to Rs 125 crore consistently. NRIs are purchasing mostly the farmlands and it has been observed that about 600 acres of land have been purchased by them around Vijayawada.
Rising Demand of Land in Vijayawada
The commitments of NRIs, along with investments of neighborhood financiers and transport organizations, have driven the costs of land in Vijayawada by a huge 27% in only a year. Costs have relatively multiplied in the last financial year by up to Rs 1.3 lakh for every sq. yard. Plots in prime regions of Guntur and Vijayawada are being sold like hot cakes, with venture pegged at Rs 12 lakh for a 200-yard plot. In the meantime, plots along the Vijayawada-Mangalagiri-Guntur highway are accessible in the scope of Rs 50, 000 to Rs 1.50 lakh. Properties located on the edges of Vijayawada are valued in the scope of Rs 2,500–3,500 for every sq. ft.
Government Initiatives to Push Vijayawada Real Estate
This sudden flood in costs has driven the government to mediate, as heightening costs can hamper its arrangement to successfully manufacture Vijayawada as a capital city. To stay away from deceitful financial specialists from causing burden, the Andhra Pradesh government has made it essential for organizations to enroll their plots already and has set up controls making it basic for purchasers to be available at the season of registration. The present circumstance is reminiscent of the land situation in Hyderabad in the early 2000s when a lot of people became millionaires overnight. That being stated, it is a brilliant period for investors who can make simple millions by putting resources into Vijayawada real estate ventures.
The best place to invest in Vijayawada
As mentioned above Vijayawada has witnessed a tremendous growth in terms of real estate. Gannavaram is one of the prominent locations in the city that has become a focusing point for the Government as well as IT professionals. The Government is planning to develop the Gannavaram airport into an International airport. If this happens it will spark the fame of Gannavaram in the entire state. For this reason, many real estate developers are showing interest towards the properties in this region. Apart from this, an IT park is also constructed with the name of Medha Towers that is attracting IT professionals towards this location. If you are planning to buy a property at this location then your investment in Harivillu project will be the best option. Harivillu is a prestigious project from Sreshta Housing Projects Pvt Ltd. It is provided with all the world-class amenities and is very close to the Medha towers and the airport. Get hold of this opportunity and be happy with your choice of investment by getting high returns.
