+
Amaravati, Guntur and Vijaywada emerge as new residential favourites in South India
Real Estate

Amaravati, Guntur and Vijaywada emerge as new residential favourites in South India

According to Magicbricks, India’s leading real estate portal, Amaravati, Guntur and Vijaywada are emerging as the new residential favourites in South India in 2024.

Based on the preferences of over 2 crore customers on the platform, Amaravati (49.10% YoY), Guntur (38.27% YoY) and Vijaywada (31.95% YoY) enjoyed increased searches (demand). At the same time, due to high uptick, residential supply (listings) in Guntur ( -22.57% YoY), Amaravati (-6.7% YoY) and Vijayavada ( -18.46% YoY) reduced.

Due to demand and supply mismatch, residential prices increased substantially in these markets. Average residential prices in Vijayawada increased 20.06% YoY to reach INR 5759 psf in Q3 (Jul-Sep 2024). Average residential prices in Guntur increased 3.27% YoY to INR 4962 psf and in Amaravati it increased 3.29% YoY to INR 4470 psf shared the portal.

According to Magicbricks, India’s leading real estate portal, Amaravati, Guntur and Vijaywada are emerging as the new residential favourites in South India in 2024. Based on the preferences of over 2 crore customers on the platform, Amaravati (49.10% YoY), Guntur (38.27% YoY) and Vijaywada (31.95% YoY) enjoyed increased searches (demand). At the same time, due to high uptick, residential supply (listings) in Guntur ( -22.57% YoY), Amaravati (-6.7% YoY) and Vijayavada ( -18.46% YoY) reduced. Due to demand and supply mismatch, residential prices increased substantially in these markets. Average residential prices in Vijayawada increased 20.06% YoY to reach INR 5759 psf in Q3 (Jul-Sep 2024). Average residential prices in Guntur increased 3.27% YoY to INR 4962 psf and in Amaravati it increased 3.29% YoY to INR 4470 psf shared the portal.

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?