Budget 2014: Proposals for Kakinada
During his speech while presenting the Union Budget for the fiscal 2014-15, Finance Minister Arun Jaitley pronounced that the government has identified Kakinada town, in East Godavari district of Andhra Pradesh as a potential hub for harware manufacturing. He said that Kakinada being an important port town has the potential for tremendous development which could be a trigger for economic growth in the region. However, no time frame was set for undertaking these development measures.
About Kakinada
Kakinada is a port city as well as a municipal corporation located about 465 km east of the combined state capital of Hyderabad and is the capital of East Godavari district Besides being a port city, it is also called as a ‘Fertiliser City‘, ‘Pensioner’s Paradise’ as well as ‘Second Madras’. It is the fourth largest city in Andhra in terms of area as well as the sixth largest in terms of population. It is renowned for the presence of a Seaport and the Hope Island. The port is located at a distance of about 5 km from Kakinada coast.
Connectivity
Kakinada is well connected to important destinations in the vicinity through some major roads. It is about 153 km south-west of Visakhapatnam along the NH-214 as well as the NH-5. Besides, it is about 215 km north-east of Vijayawada along the NH-5, the NH-214 as well as the SH-40. Some of the other major roads that pass along Kakinada are the Kakinada Road, the Kotipally-Kakinada Road, the Wharf Road, the Dairy Farm Road, the Samalkota-Kakinada Bypass. It has a wide road network with APSRTC buses plying through the area and it being dotted by many bus stops. The Kakinada Railway station is located just about 3 km away from the city center while the nearest airport is the Rajahmundry airport which is located about 62 km away along the ADB Road.
Infrastructure
Kakinada is renowned for its various infrastructure facilities. Some of the reputed schools here are the New Cambridge English Medium School, Ashram Public School, Bhashyam Public School, among others. There are also some other prominent educational institutions like the Jawaharlal Nehru Technological University and the Narayana Junior College, among others. The area also has some important hospitals like Apollo Hospital, Sai Sudha Hospital, Sri Hospital and Christian Cancer Center, among others. Some of the important religious institutions in Kakinada are Sampavaram Sri Bhavannarayana Swamy temple, Tripura Sundari temple and Bible Mission Church, among others. Besides, there are other facilities like banks, shopping centers, restaurants, entertainment centers, parks and water bodies, among others.
Kakinada is also part of a Special Economic Zone (SEZ) as well as a proposed Petroleum, Chemical and Petrochemical Investment Region (PCPIR). It is also an important hub of regional deep-sea exploratory activity due to its deep-water seaport as well as its proximity to gas fields. It is renowned for the Kakinada Industrial Area, the Silkroad Sugar Refinery, the Coramandel Fertilisers and Chemicals Ltd and the Nagarjuna Fertilisers and Chemicals, among others.
Real Estate development
Besides being a seaport and an industrial hub, Kakinada is also an important residential destination. Some of the important residential pockets in the area are Teachers Colony, Maruti Nagar, Anjaneya Nagar, Thimmapuram, Panasapadu, FCI Colony, Rayudupalem, Vakalapudi, Valasapakala, APIIC Colony, Ramanayapeta, Lalitha Nagar, Sarpavaram, Madhavapatnam, Narasanna Nagar, Pratap Nagar, Rajendra Nagar, Rajeshwari Nagar, Indra Palem, Ashok Nagar, Dwaraka Nagar, Kondayya Palem, Rammohanraja Nagar, Burma Colony, Ayodhya Nagar, Shanti Nagar, Rama Rao Peta, Pallamraju Nagar and Suryanarayana Puram, among others.
Future Prospects
The budgetary proposals intended for Kakinada is bound to have a positive impact on the development of the real estate market in the city. By developing the port city into a hub for hardware manufacturing, it would result in the city being transformed into a major industrial hub in the region with the increase in employment opportunities. This would lead to the need for additional housing requirements where residential developers can cash in on. As a result, land values are expected to increase leading to investors getting healthy returns on their investments.
