Following the formation of Capital city Amaravati, near Vijayawada and Guntur, has paved the way for a boom in the guntur real estate sector. but, for last couple of years the market was in slump owing to Geo political reasons. With the advent of the International Airport and machilipatnam port, the future of Vijayawada and Guntur real estate looks bright with high demand.
Guntur real estate growth
In the coming days, there are chances that property prices in Guntur, Amaravati, Vijayawada and Machilipatnam may increase. As the AP Government is planning for more than two lakh houses for the middle class people, the players in the real estate sector are very optimistic that Vijayawada-Guntur can challenge Hyderabad-Secunderabad in near future.
The realtors and builders in Amaravati-Guntur-Vijayawada stretch are pinning their hopes on capital city works and They hope the construction works will give breath to them from ongoing slump in realty and construction market.
Two stretches that are showing lot of promise are Guntur to Vijayawada and Machilipatnam to Vijayawada, as it is convenient for residential, however, some realtors said that the public was showing interest towards real estate in Guntur, rather than Vijayawada real estate. However, demand for property near the Capital area is on the high.
Around 1,000 apartments, houses are coming up in the 15 km stretch between Vijayawada Varadhi and Mangalagiri. Lots of traders, businessmen, employees including the middle-classes were living and purchasing houses, plots and flats in the 15 km stretch.
In Amaravati, Pi Data Centre in the IT Park at Mangalagiri and a clutch of small companies had set up their units. The office space in Medha Towers at Gannavaram had been completely booked as per official information, and the stage is set for construction of the second phase.
Industry is mainly banking on the initiatives such as the Designated Technology Park, under which an impressive 50% rental guarantee was being given by the government for specified time-frames.
This incentive was being given for as long as 36 months to companies hiring over four lakh square feet of office space from real estate developers. Initiatives such as this will create positive outlook for guntur real estate.
Interested firms had been asked to register on the website: https://dtp.ap.gov.in
Hyperloop signs MoU
Hyperloop Transportation Technologies (HTT) signed a memorandum of understanding with the Andhra Pradesh Economic Development Board (APEDB) to connect Vijayawada and Amaravati, the new capital of Andhra Pradesh in Guntur district.
The proposed route for the hyperloop is between the city centres of Vijayawada and Amaravati, potentially turning a trip of more than one hour into a 5-minute ride. The project will use a public-private partnership (PPP) model with funding primarily from private investors.
New industrial townships
Guntur real estate is poised to grow with Andhra Pradesh government’s plan to develop two or three major industrial townships along the outer ring road around Amaravati, the new capital.
Chief Minister N Chandrababu Naidu asked the officials to identify the government land and water availability to develop the industrial townships. The six-lane outer ring road , covering 87 villages in Krishna and Guntur districts will connect the major State highways, national highways and important district roads.