The Confederation of Real Estate Developers Association of India (CREDAI) is anticipating a huge construction activities in Vizinaagaram and Srikakulam districts, with the availability of properties at affordable prices when compared to that in Visakhapatnam.
CREDAI State general secretary K. Subhash Chandra Bose, who is also Managing Director of Pride Constructions, said that the association was suggesting its members to focus on Tier-3 and Tier-4 cities for the same reason.
“People who can’t purchase properties in Visakhapatnam owing to high cost can do the same in Vizianagaram and Kothavalasa towns, which are closely located to the Port City. A 3 BHK flat costs somewhere between ₹75 lakh to ₹1 crore in prime areas in Visakhapatnam. However, the same is available in the range of ₹ 50 lakh and ₹60 lakh in the industrial towns of Vizianagaram and Kothavalasa,” explained Mr. Bose.
He further said that the Tier-III and Tier-IV cities also has less traffic and pollution when compared to the bigger cities and these factors would make the buyers look for properties the towns nearby the big cities.
New India Summit
“Challenges and opportunities pertaining to the construction activity in the newly developing towns will be discussed in the New India Summit, scheduled to be held in Visakhapatnam on April 29 and 30. We request the government to improve the civic infrastructure such as roads, assured water facility, electricity among others,” said Mr. Bose.
The government’s support will spur both construction and economic activity in towns such as Vizianagarm and Kothavalasa.
CREDAI Srikakulam district president Gurugubilli Raju said that the proposed airport at Bhogapuram and atomic power plant at Ranasthalam on the Visakhapatnam-Srikakulam National Highway would be the added advantages for the construction industry in Srikakulam district.
“Many multinational companies and pharmaceutical companies in the Pydibhimavaram industrial zone are encouraging their staff to stay in Srikakulam instead of Visakhapatnam due to proximity. With the construction of flyovers on the National Highway, it is easy to reach Srikakulam within 40 minutes from Pydibhimavaram,” said Mr. Raju.
“We will give a presentation in the New India Summit explaining the opportunities of Srikakulam. Adoption of new technology and cost-effective measures to reduce overall construction cost will also be discussed,” he added.
