Andhra: 4 things that could be the game changer
Though hopes of getting a ‘special status’ for the residuary state may have been quashed by the National Development Council (NDC), the state of Andhra Pradesh still has a lot to look for. And above all, with a strong leader like Chandrababu Naidu of TDP (Telugu Desam Party), the state promises a positive future.
Here are four pointers which could change the game of Andhra’s realty market.
New Hitec City
The renowned Hitec City in Hyderabad that helped the city mark its presence on the IT map of India, was a result of Chandrababu Naidu’s hard work. Not only did Hyderabad earned an epithet Cyberabad, but also attracted several MNCs to set their base here, which in turn fuelled the housing demand significantly.
And now Naidu wants to replicate the same model to build another Hitec City in Krishna District of Andhra Pradesh. Bapulapadu, a village situated at a distance of about 5km from the Gannavaram Airport has been identified as a potential option to house a new Hitec City. As per the sources, 2,000 acres of government land has already been identified in the area.
With this plan in mind, even talks of upgrading the Gannavaram airport into an international one are also doing the rounds. Thus, Bapulapadu’s proximity to this airport makes it a potential option for building this new IT city. The area is expected to attract lot of investment, which in turn will fuel the housing demand here.
Mega and Smart cities
While addressing the media, Naidu promised that out of 100 Smart Cities planned under BJP’s election manifesto, about 10 will be developed in Andhra Pradesh. Though, details on the same are yet to be disclosed, most probably Vizag, Vijayawada and Tirupati will be transformed into mega cities. Already on the realty growth ladder, these three cities will further ride piggy back on the ‘smart city quotient’. Improved Infrastructure coupled with smart technology will definitely boost the realty market of these cities as well the upcoming smart cities.
Vishakahapatnam as financial capital
Vizag as the financial capital of the state is another important development that is likely to happen, Ayyanna Patrudu, Andhra Pradesh panchayat raj minister told the media recently. And why won’t it be? From a natural harbour to a seafront to a cosmopolitan panache, the port city has it all. Further, there are plans to build 12 minor ports along the long coastline of Andhra Pradesh. This along with being a mega city will significantly work in the favour of real estate market of the city.
AP Vision 2020 to be re-drafted again
Plans to redraft the Vision 2020 is also doing the rounds. In collaboration with McKinsey, a global consultancy firm, Naidu had prepared a vision report during his second term as the CM. Now this report, in the backdrop of changed scenario, will highlight a plan for integrated development of the residuary state. This ambitious vision comprises of several development plans, which will have a positive impact on the market of the entire state.
Further, in his election manifesto, Naidu had promised few special provisions for the state. These included regular power supply for all households, two acres of land to the landless, regularisation of patta and assigned land that are owned by farmers, to name a few.
All said and done, now we can just hope that all these promises transform into reality soon.
