Realty expects gazumping trend soon in Vijayawada

Vijayawada Real Estate  

The approaching shift of the Secretariat employees from Hyderabad to Amaravati may again trigger the familiar problems of property boom and gazumping in the real estate sector.

This does mean an array of tricks approaching back into play turning the home-buying process from being merely difficult into unfeasible. Property hots pots like the prime localities in Vijayawada city in addition to the new capital Amaravati seem to be to be moving further away from them.

"We have finally started acquiring enquiries for properties that contain been lying vacant for want of buyers. All of us expect that at least 40-50 per cent of the 1500-2,500 ready-to-occupy apartments of CREDAI members near Vijayawada to be filled by August-end this year, " says R. V. Swamy, ex vice-president and  Chairman of Capital Place Builders' Association Gadde Rajaling admits there is a reason to cheer for the fraternity "but they may have to exercise patience and wait for while". "We expect the marketplace to take off only after Sankranthi 2017. Of the 8,000--10,500 families likely to shift here from Hyderabad, them would commute in the weekends for just one year and would explore the choices of buying properties only after that, " says Mr. Rajaling.

The Builders' Association, in collaboration with the Andhra Pradesh RealEstate Developers' Association (APREDA), is designing mega programs of using construction of high-end buildings in the Amaravati region.

Capital area abuzz with realty activity ?

For a long time, the strain|stretching between Guntur and Vijayawada has attracted the attention of investors but it was only since 2014 that the potential has been realised.

The luxurious green patches on either side of the high way are thus the high rise constructions. Following the success of IJM Lingamaneni venture opposite Acharya Nagarjuna University, a joint opportunity between Lingamaneni group and IJM, Malayasia, the LEPL group has come away with another venture, LEPL Mid Valley, abutting APSP 5th Battalion.

Yet another group, Ramakrishna Housing has come away with a project offering villas and apartments.

With both major real real estate businesses promising quality city amenities in the new Capital region, they could attract potential investors.

Realty Advantages of Capital area

"There are many features of buying a flat near to the Domestic Highway. Apart from train, road and air port interface connectivity, those living here will have direct online connectivity to the new Capital.