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Bright future for Real Estate Sector in Vizag: MP MVV Sathyanarayana


In the wake of Visakhapatnam being declared as executive capital, the real estate sector and construction industry is recovering from the Covid-19 blues and many ventures are coming up at various places to offer affordable housing to all sections of the society, he added.

Speaking to Hello Vizag, Mr. Sathyaranayana said on one side industries and another side tourism sector is developing. People are willing to settle in the Vizag, which is peaceful and people-friendly. Many people who worked and retired from their services in other states coming here to settle and live peacefully. He further stated that the development of this sector will only flourish if the common and middle-class people can afford to have a house in Vizag.

As far as other infrastructure projects are concerned in Vizag, he said preparations are in full swing for the Metrorail project and hybrid planetarium is being developed by VMRDA across seven acres of land on Kailasagiri Hill-top Park. In some areas, roads are being widened for smooth traffic flow. And GVMC officials are putting in efforts to commission the waste-to-energy plant being constructed at Kapulupada by the year-end. Many modernization works are in fast mode. New flyover bridges have been laid to lessen the overload of traffic and recently a new flyover bridge being laid in connection with port connectivity from the Convent junction. And works at the flyover bridge at NAD junction is going on in full swing and it will be thrown open by the end of December.

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By having good connectivity with road, rail, sea, and air to the national and international places, the development of real estate will be sure, opined MP MVV Sathyanarayana. Like Vizag Steel Plant, HPCL, BHEL, Pharma city, and industries in Special Economic zones, Vizag will be developed as a real estate hub.

Apartments are mushrooming in many places in the city like at MVP Colony, Lawson’s Bay, Maddilapalem, NAD Kotta road, Marripalem, Madhavadhara, Muralinagar, Visalakshinagar, PM Palem, Akkyapalem, Sithampeta, Gurudwara, Dwarakanagar, Railway New Colony, Pandurangapuram, Beach road. Add to this Vizag has been declared as a clean-city in the country in the latest Swachh Survekshan (SS) Rankings 2020, in the category of cities with a population of over 10 lakh.

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