Is Investing in Real Estate Profitable in Vijayawada?
Vijayawada is one of the top 5 cities in terms of annualized rate growth in the residential real estate assets market for (ready-to-occupy) homes. This growth is in the range of 8 to 10 percent every year. Vijayawada, often known as the “City of Victory,” is located 257 kilometers from Hyderabad on the banks of the Krishna River. All of the city’s financial sectors, including the commercial and industrial sectors, are now growing at an excessive rate.
In terms of both quality and quantity, Vijayawada’s contemporary residential Real Estate assets phase is expanding. The main reasons for Vijayawada’s quick growth were the government’s attention and the development of laws on physical construction and infrastructure. The city is quickly implementing new guidelines for real estate structures, such as residential townships, where all modern-day amenities are offered inside its boundaries—gyms, swimming pools, clubs, tennis courts, and much more—at extremely affordable prices.
The government is also doing projects in a few areas to build strong and excellent homes because the old homes are of low quality. Under the Rajiv Swagruha initiative, the Vijayawada Development Authority Guntur Tenali Mangalagiri (VGTM-UDA) intends to build more than 76,000 dwellings in Vijayawada and Tenali. The UDA will even take action to make it easier for a Special Economic Zone for Information Technology (SEZ) to be improved to create jobs.
In India’s Tier-II cities, the real estate market in Vijayawada has become one of the most alluring places to invest. Customers have a strong belief that Vijayawada will become the financial center of Andhra Pradesh in the next years given the type of capital already circulating in the market. The Vijayawada real estate market has demonstrated a great deal of stability as a result of the government relaxing the rules for FDI inside the Indian real estate industry and SEBI approving real estate mutual fund investments.
Given the large amount of capital that is freely coming into Vijayawada city, the assets zone has finally turned into a seller’s market, causing notable price increases in the majority of its projects. Over the last two years, it has seen an increase of around 30%, and over the next year and a half, it is likely to see an increase of at least 40% to 60%.
Because of this, the Bejawada retail industry is moving slowly, but it may be possible to see that it will pick up speed in the future with the anticipated entry of brands like Shoppers Stop and Big Bazaar, two of the most well-known retailers. The City Municipal Corporation has suggested building a multiplex on two acres of land next to the Vidhya Dharapuram bypass to boost Vijayawada’s retail industry.
If the public-private cooperation is successful, the project will serve as a hotel and entertainment hub. If you wish to contain funding of Rs 40 crore, it is quite likely that the organization will receive 25% financing from the Center to carry out the plans for the suggested center. Big Bazaar has already started construction on Bandar Road and hired an open website page. Shoppers Stop and Lifestyle are looking for suitable locations along the city’s Ring Road. These future big shopping centers would genuinely provide a boost for Vijayawada’s overall retail reputation and help to transform the city into a modern metropolis.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
