Vijayawada: Top 5 areas to watch out for Upcoming Apartment projects
Vijayawada has hogged the limelight following its exaltation of being declared the new capital of Andhra Pradesh. This has already had a positive bearing on the realty prospects that the city is expected to go through in future. In fact, prices in the city started going northward since Q2 2014 in anticipation of Vijayawada being selected as the new capital. The capital decision resulted in a further increase in prices. Even though these are still early days as far as developing the new capital in concerned, the government is leaving no stone unturned in its effort to secure land suitable for developing various infrastructure projects as well as government establishments.
Prominent Areas
Considering that the government has large parcels of land particularly on the outskirts of the city in pockets, it would not need to look to secure private land in extensive measures. As part of the development measure, the government has already allotted large land parcels to developers to develop residential projects in fringe areas across the city. Developers have already embarked on many prestigious residential projects especially towards the fringes of the city. Some of the major areas across the city renowned for Upcoming apartment projects are Tadigadapa, Gannavaram, Poranki, Kanuru and Gunadhala, among others.
Upcoming Projects
Prices for upcoming apartment projects in Vijayawada between 1000 and 1500 sq.ft. ranges between Rs 30-70 lakh. Most of these are either of 2 or 3 BHK configuration with 2 BHK units comprising a majority. There are a host of prestigious Upcoming apartment projects in Vijayawada which are listed with CommonFloor . They include Lakshmi Venkateswara Gardens (Tadigadapa) being developed by STBL Projects Ltd, Lakshmi Prasanna Gardens (Gannavaram) by Saiteja Builders Pvt Ltd, Vighnesh Heights (Poranki) by VVR Constructions Pvt Ltd, Tonia Heights (Kanuru) by Vishnu Builders and Garuda Crest (Gunadhala) by Garuda Constructions.
Future Prospects
With Vijayawada expected to grow tremendously in residential realty terms, prices are expected to appreciate drastically in the medium to long term. Currently the city is in the throes of speculative pricing. However, in the next couple of months apartment prices are expected to stabilize and be more affordable to larger number of prospective buyers. Most of the upcoming apartment projects listed with CommonFloor are expected to be ready for occupation within a year or so. Hence, it would be a lucrative proposition for prospective buyers to invest in one of these projects, based on their choice.
