An year after the bifurcation of Andhra Pradesh into Telangana and Seemandhra, out of the many factors which were affected, in that the real estate sector of Andhra Pradesh is one of the key issues which has been effected. But in a positive way it has opened up wide dimensions of opportunities.The bifurcation of Andhra Pradesh has opened up a huge growth opportunities in the real estate sector and has brought into limelight many major cities of Andhra like Visakhapatnam, Vijayawada, Kurnool, Tirupati and even Ongole, which didn't get any realistic development and were left unnoticed all these years with just Hyderabad being the hot spot of the state. The state division had landed a heavy slap on all those realtors who invested loads of money only in Hyderabad and have left all the other major cities of the state unnoticed.Now, a heavy surge in the realtor business has been witnessed across major Seemandhra cities like Visakhapatnam, Vijayawada, Kurnool, Tirupati and Ongole.Let's get a little deeper into the positive aspects of the Andhra real estate.
Geographically the new Andhra Pradesh has been carved out in such a way that it promises a huge potential for development. All the 3 means of transport - sea, air and road have significant importance in the current state.
Explaining on the lines further - it has the second largest coast line after Gujarat, and also has five sea ports.
It has four airports, which enhances the air connectivity of the cities significantly.
Speaking about the roadways - many cities of the state has considerable strength in terms of road connectivity since the NH-5, which is part of The Golden Quadrilateral (the highway network connecting Delhi, Mumbai, Chennai and Kolkata), passes through the key cities of the state.
A few insights into the 4 key development zones of Andhra Pradesh which drive the real estate growth of the state:
» Key City - Visakhapatnam
Visakhapatnam, an important port city of Andhra Pradesh is also the current IT hub of the state, after Hyderabad (the IT hub of the state before bifurcation) got separated from the state. With national and international IT firms taking roots at the IT parks in Madhurawada and Rushikonda, Vizag is proving its mettle to becoming the 3rd IT hotspot of India, after Bangalore and Hyderabad.
Apart from the IT sector, Vizag is also developing into a Healthcare and Tourism hub.
» Sub Cities - Vizianagaram, Srikakulam
Adjacent to the vibrant city of Vizag are these 2 cities. Though, much smaller in size, compared to their big brother Vizag, these 2 cities have not been compromised on the real estate sectors by potent builders as well as qualified construction companies. With the ever increasing construction projects in these cities which include apartments, offices, etc... these cities as well, occupy a prominent role for those wishing to own their very own property, but are a little tight on their budget. This doesn't mean the quality of these real estate projects have been compromised. You could find some of the best and finely built projects in these areas which are on par with the quality of any other construction project in a well-developed urban city.
North Central Andhra
» Key Cities - Rajahmundry and Kakinada
Rajahmundry, with an airport connecting it to Hyderabad, has a scope for Tourism development because of its great historical and religious relevance.
Kakinada, another port city of Andhra, located close to Rajahmundry, is an important base of the ONGC and is part of the thriving PCPIR (Petroleum, Chemical and Petrochemical Investment Region).
With such eminent potentiality the city has immense development possibility for industrial, warehousing and logistics development.
» Key Cities - Vijayawada, Guntur, Tenali and Mangalgiri
This cluster mostly holds the probability of housing the new capital of the state and also aspires to be the financial hub of the state.
Vijayawada, since ages has been a prime business zone in the state and also being the rich agricultural source of Andhra Pradesh has conquered a prime status with the formation of the state which promises vibrant realty growth.
» Futuristic city - Amaravathi
Though a small village in the Guntur district of Andhra Pradesh, Amaravathi has been chosen by the existing government to be the capital of the newly emerged state of Andhra Pradesh. With the vision to develop the state capital on the basis of the current design and structure of Singapore, the Singapore government has also been roped into this prestigious project. With such gigantic leaps being taken to create a world class state capital, it's obvious that the real estate potential of not only Amaravathi but also, each and every inch of the Central Pradesh has risen to a whole new level, opening up beneficial opportunities to both construction firms and property.
» Key Cities - Tirupati, Nellore and Ongole
Tirupati being a prime pilgrimage hotspot of the state attracts tourists from the neighboring state of Karnataka and Tamilnadu as the city is equidistant from Chennai and Bangalore.
Apart from being the divine hub of the state, the city is also being projected as an IT hub with a planned IT SEZ at Renigunta.
Nellore, being economically strong with its agriculture and aquaculture is also witnessing industrial development since it has the Krishnapatnam port.
Though there are a plethora of factors apart from all the above mentioned which prove the tremendously growing potential of the Andhra Pradesh real estate sector, there's also a flipside of the coin for this, which is explained below :
Since Hyderabad remains the state capital for 10 years most investors might still invest in Hyderabad having an illusion that Andhra needs much more time to grow and get invested in.
Until then the market moves in an upward and downward swing.
But the Wise invests in an opportunity when no one even foresees the future.
Hope you are WISE!!