Experts predict that real estate in Visakhapatnam is likely to boom after the Assembly elections in Andhra Pradesh. It is said that real estate land will increase as big projects come up. It is said that there is a possibility of a high real estate boom in the rapidly developing Visakhapatnam.
Along with Visakhapatnam port, the upcoming Gangavaram port, the beach corridor between Visakha and Bhimunipatnam, and the proposed express highway between Bhogapuram and Visakha will contribute to this. Real estate growth is expected regardless of election results. It is said that giants in the real estate sector are likely to play a crucial role after the elections. It is said that huge FDIs are also likely to come to Visakha. It is being determined that Visakhapatnam will be on the path of development regardless of whether the capital will be Visakhapatnam or Amaravati.
Factors like GMR International Airport in Bhogapuram, Adani Data Park, the Visakha-Chennai Industrial Corridor, and the and the East Coast Economic Corridor, which reduces travel time between Chhattisgarh capital Raipur and Visakha, will contribute to real estate growth there. The demand for residential, commercial, retail, and office space markets will increase significantly, said CII Zonal Chairman Rajesh Granthi. In a recent report, JLL said that realty land in Visakhapatnam is assured if the big logistics projects start within the stipulated time. Apart from IT, Visakhapatnam is expected to grow in sectors such as defence, pharma, seafood exports, food processing industries, tourism, hospitality, and medical tourism.
