CREDAI expects huge construction activity in Vizinaagaram, Srikakulam

The Confederation of Real Estate Developers Association of India (CREDAI) is anticipating a huge construction activity in Vizinaagaram and Srikakulam districts, with the availability of properties at affordable costs when compared to that in Visakhapatnam.

CREDAI State general secretary K Subhash Chandra Bose, who is also Managing Director of Pride Constructions, said that the association was suggesting its members concentrate on Tier-3 and Tier-4 cities for the same reason.

People who can’t buy properties in Visakhapatnam owing to the high price can do the same in Vizianagaram and Kothavalasa towns, which are closely situated in the Port City. A 3 BHK flat costs somewhere between Rs 75 lakh to Rs 1 crore in prime locations in Visakhapatnam. However, the same is available in the range of Rs 50 lakh and Rs 60 lakh in the industrial towns of Vizianagaram and Kothavalasa, said Bose.

He said that the Tier-III and Tier-IV cities also have less traffic and pollution when compared to the larger cities and these elements would make the buyers look for properties in the towns nearby the major cities.

Challenges and opportunities for the construction activity in the recently developing towns will be discussed in the New India Summit, planned to be held in Visakhapatnam on April 29 and 30, said Bose.

The government’s help will spur both construction and economic activity in towns.

CREDAI Srikakulam district president Gurugubilli Raju told the media that the suggested airport at Bhogapuram and atomic power plant at Ranasthalam on the Visakhapatnam-Srikakulam National Highway would be the added benefits for the construction industry in Srikakulam district.

Many multinational firms and pharmaceutical firms in the Pydibhimavaram industrial zone are motivating their staff to stay in Srikakulam instead of Visakhapatnam due to its nearness. With the building of flyovers on the National Highway, it is easy to reach Srikakulam within 40 minutes from Pydibhimavaram.

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