Visakhapatnam is known as the port city of Andhra Pradesh. The steel port and the naval base make this a city with opportunities. Vizag also is known for its industries and is considered to be the second capital of Andhra Pradesh.
The Real Estate prices in Visakhapatnam are rising with investors in various sectors showing interest to invest in the city. Real Estate is one sector which is growing at fast pace in Visakhapatnam for many years and especially now due to the division of Telangana and Andhra Pradesh.
Due to the division of the two states, many companies whether it is IT, pharmacy and in many other sectors are showing an interest to establish their branches in Andhra Pradesh. And the good news is that many companies are finding Visakhapatnam the best place to have their branches set up.
The new Government of Andhra Pradesh is encouraging investors to invest in their state by providing lands in subsidized prices. This is attracting many investors to Andhra Pradesh and especially to Visakhapatnam as it already has a well-established international airport. This makes it easy to commute to various parts of the country as well as to other countries.
The IT sector is growing fast with many companies like Wipro, TCS etc. already have established their branches in Visakhapatnam. Many other IT companies have started constructing the buildings for the branches. There are more than 100 pharma companies in Visakhapatnam, with some of them having more than one branch.
With many international schools and prominent universities, the city is an educational center. The addition of prestigious educational institutions like IIM, Visakhapatnam has evolved a place for international students. So, the city wants many residential areas to cater the needs of the students coming to the city to study in various institutions.
Investing in Real Estate such as buying open plots or residential plots in Visakhapatnam is a clever decision as there will always be a rise in the prices of land values. The Real Estate sector is developing on the outskirts of Visakhapatnam due to the new companies and educational institutes being established there.
With people migrating from various parts of the country to Visakhapatnam, the demand for a house will always be there. The best beaches, the peaceful localities, and the friendly people make Visakhapatnam the best place to choose after retirement.
The wide roads, best beaches, good weather, the best of the educational institutes and companies make Visakhapatnam the best place to live and invest!