Sri City in Andhra: Realty impact in surrounding areas
The southern part of Andhra Pradesh is set to undergo a boom in residential realty with the development of Sri City, a world-class Integrated Business City. Situated on the southern tip of Andhra Pradesh bordering Tamil Nadu, it is spread across 100 sq. km. It is strategically located along the NH-5, just about 55 km from Chennai. A major part of Sri City is located in Chittoor district of Andhra Pradesh while a small part is located in Nellore district. The development of this mega City is expected to have a major impact on the residential realty market in surrounding areas in the region.
Multi-nodal connectivity
Sri City is renowned for its multi-nodal connectivity as well as its easy access to important logistics hubs. Three major roads pass through its fringes. They include the NH-5 on the eastern fringe, the Tada-Tirupati State highway on the northern fringe and the Kadur–Satyavedu-Tiruvallur–Sriperumbudur road on the western fringe. Sri City is also well connected through rail. It is located between the Tada railway station on the north and the Arambakkam railway station on the south through which suburban trains pass. Besides, it is just about 12 km south of Sullurpeta, where express trains going towards Chennai, Hyderabad, Bangalore, Kolkata and Delhi stop. The Chennai International Airport is about 80 km from Sri City while the Tirupati International Airport is just about 78 km away. Besides, it is just about 65 km from the Chennai Port. Moreover, it is just about 50 km from Ennore Port and 52 km from Kattupalli Shipyard.
Uniqueness in Infrastructure
Sri City is unique in its infrastructure facilities with the Master Plan for it prepared by widely acclaimed urban planners Jurong Consultants of Singapore. The infrastructure is unique adhering to world standards in terms of physical infrastructure as well as social, educational and recreational facilities. Besides, it also employs alternative sources of energy and is aimed to become a carbon-neutral city. The infrastructure of Sri City has been built so as to tap the tremendous growth potential in the region. Notably, the utility networks of Sri City run along all roads in the vicinity so that it can service any individual residential plot in the locality.
Divided into Zones
Sri City has been segregated into different zones so as to service the requirements of diverse industries like manufacturing and service industries. Besides, there are also dedicated areas which have allotted for other requirements like housing, education, health-care and lifestyle. There are also industry-specific zones including a Special Economic Zone (SEZ), a Free Trade and Warehousing Zone (FTWZ) and a Domestic Tariff Zone (DTZ).
Importance to Residential requirements
Sri City will cater to the residential requirements of people planning to stay here. There are developed residential plots with optimal access to different facilities. They include road, power, water, telecom, sewage and storm-water drain networks. Besides, it also offers Build-to -suit’ options for buyers looking for specific and niche requirements. Special contractors will monitor the construction of these specific requirements undertaken with the support of Sri City’s design and construction services team.
The Central Business District (CBD) in Sri City will have various important facilities. They include municipal offices, police stations, post offices, fire stations, libraries, business and financial centers, among others. Other recreational facilities here include shopping malls, restaurants, cinema theaters and arts and cultural centers, among others.
The Residential Zone in Sri City will cater to the varying requirements of buyers. It will have residential villas, apartments, hostels and dormitories in various budget ranges. The focus will be kept on affordability and cost-effectiveness. Besides, other facilities like jogging tracks, walking paths, waterfront developments and adventure sports will be given prominence. Presently, about 100 apartments are under construction here, each measuring about 1050 sq. ft. Besides, for the workers of Sri City, model communities are being set up. Accordingly, three model villages with about 600 residential units have already been developed.
Adjoining the residential will be various other facilities like multi-speciality health-care facilities, Star and budget hotels and service apartments, among others. Entertainment and leisure facilities would include malls, shopping arcades, multiplexes, art centers, resorts and clubs. Besides, an 18-hole golf course with club-house facilities will also be developed here. The Education Zone will house schools, colleges as well as research and training centers. Education will be imparted in various faculties like arts, commerce, business, engineering and medicine. Premier educational institutions like the Indian Institute of Technology (IIT) and the Indian School of Business are being planned here.
Impact on Realty
The development of Sri City will also have a major impact on the residential realty market in areas in the vicinity as well. Major residential projects are expected to come up in the vicinity of Sri City, many of them premium projects. Infrastructure facilities are also likely to develop considerably in the surrounding areas due to the impact created by Sri City. Subsequently, land values are also expected to increase remarkably. Hence, investors can expect healthy returns while end-users can enjoy the best of facilities.
