By SNV Sudhir
Vizag having a major port, good airport, industries, good
educational institutions, and a salubrious climate can become one of the most
developed cosmopolitan cities in India, opined a few industry experts. Many
corporate real estate giants are eyeing Vizag’s real estate and housing
business.
“With all these advantages and a
low crime rate living in this beautiful city is indeed a boon. The next decade
is very crucial for the city’s development. The city needs investments in
important areas like infrastructure, more connectivity, world class educational
institutions, excellent medical facilities, and good housing facilities to
become a world class city,” said Shriram Properties, vice president, R
Balaji.
Shriram Panorama Hills, which is
the flagship project of Shriram Properties in Vizag, is first multi crore
housing projects taken up by any corporate real estate giant in the city. The project having nearly 2000 dwelling units
of Apartments, Villas, and Duplexes worth Rs 1,450 crs is on the cards.
“More than 70 percent of the
flats are already sold out. Though we were little skeptical about launching
such a mega project considering it a tier II city. But, the response was
amazing which we never expected. I think Vizag will be the next big thing in
the residual state even if the city is not made capital. City has potential of
absorbing 10 such mega projects. We are also planning another project after
completion of the present one,” added Balaji.
According to industry sources
many other corporate real estate firms like, India Bulls, M/s Aditya HIDCO, M/s
Berggruen real estates, Maytas and L & T who have bagged most valuable
lands in and around Madhurawada, Endada and Paradesipalem during Vuda’s bulk
land auction in 2008 would be launching their projects very soon.
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