Investment opportunities galore around Vijayawada

Vijayawada: The commercial capital of coastal districts, Vijayawada, is growing by leaps and bounds. The people are moving towards east and west only because of the ample opportunities to buy land at low price if one chooses to travel some 20 minutes from the bus station or railway station. Sandwiched between the River Krishna and an array of hills, the city is at present growing towards east only. The bottleneck near Indrakeeladri Hill is a hindrance for the city to grow westwards. One needs to travel at least five kilometres towards Nainavaram flyover to cover less than a kilometre distance from Bhavanipuram to Municipal Corporation Office. There is a terrific shortage of house sites within the city limits hence there is a huge demand in the outskirts and periphery. Investors are ready to invest several crores of rupees on a good house site within the city limits i.e., from the bus station to Benz Circle and from the bus station upto Machavaram. So is the case for properties like independent houses and apartment blocks in the city limits. However, in spite of the demand for house sites, there is near stagnation of real estate in the peripherals of the city. For instance, well developed house sites are available in places like Kankipadu in the east of the city or Guntupalli in the west of the city for about Rs 5,000 to Rs 8,000 because of the poor transport facilities. Untimely bus services and poor road connectivity makes a torturous journey to travel from these places to reach the city. For investor the house sites on the northern side of the city in the villages like Jakkampudi, Ampapuram and Apparaopet are available at throwaway price now, but one cannot expect phenomenal growth in these villages in the near future. And for gated communities it would bring a better appreciation of the property.

There is a need to develop infrastructure in the city for proper growth, says Chanumolu Krishna Rao, noted realtor and CMD of Rowfin Real Estates. "For instance, if the inner ring road is completed connecting it to the National Highway 5, it would be easy for people to travel to the outside of the city," he said. "Nobody would be happy to live in a congested city if there is proper transportation facility to live in peaceful colonies," he points out. If widening work of Vijayawada-Machilipatnam road is taken up, it would be easy for people to go out of the city. This would also attract property developers to build houses along this road in the periphery of the city. Rajasekhar of MD of Vijaya Sai Housing says that development is taking place at fast pace on the outskirts of the city particularly towards east of Vijayawada to Kankipadu. If the works on the Outer Ring Road is completed, the city would grow towards north and west also. The villages located in north like Nunna, Patapadu, Jakkampudi, Ambapuram, Vedurupavuluru, Mustabada and others are going to witness huge development in the near future. While towards west the villages like Guntupalli, Rayanapadu, Ibrahimpatnam and others are also attracting the investors. Recently, the government has increased the land value for registration purpose. This would result in more revenue to the government in the name of NALA tax which is ten per cent of the registration value. The properties have become costlier due to this and for the common man it will be not possible to buy properties in these developing sectors as the city is going to be converted into Greater Vijayawada soon.