Also considered as rapidly growing destination for business establishments, sports venues and educational institutions.īalaji Temple and Durgalamma Ammavaru temples have also marked a significant impression to the place around. The reason for its rapid growth is due to its proximity to IT companies & industrial sectors located in and around the region. A prominent suburban locality on the Vizag-Vizianagaram stretch of NH5. Madhurawada has become one of the most favorable real estate destinations in Visakhapatnam. The green area environment of Kapulauppadda & Rushikonda comes up with many luxury villas, farmhouses apartments specifically built for staying of NRI’s. NRI are bringing specific projects being developed which are bringing new hopes in the market.These projects will have average and large-sized apartments. VUDA has been launching several mega-housing projects in Visakhapatnam.Many prominent software companies have announced their plans of setting up offices in the city, Vizag real estate market prices are hiked.For the people who come to the city from neighboring cities. The growth of investment in the sector is mainly driven by an increasing demand for building residential places. Some of the most prominent industries that promise great profitable returns include the pharmaceutical industry, automobiles industry, IT industry, etc.Īpart from the industries, Vizag gives the opportunity to invest in the real estate sector of the city. The investors who are willing to invest, the city provides numerous options to enter with a wide range. In order to get the best facility,numerous foreign investors are willing to set up their operational base in Vizag. The government also helps investors study the current market system and gives them free access to natural resources. Other than these advantages, the government of Andhra Pradesh, with a sight to attract more foreign investment in the city, provides tax benefits and other incentive schemes to investors. The city has a brilliant telecommunication system all over the city to enable easy communication.The city has a highly qualified and technically skilled work force.Vizag has a very proactive and responsible administrative set up. Government policies are very promising and invite new investments in the city.The city is home to several world-class educational institutions and state of the art research and development centers.The most important aspect that the procedure of investment is simple & transparent.Vizag is known for its top quality resources which are rich & natural.No shortage of power supply creates an important infrastructure for all the industries.The city is well connected to the other major cities of Andhra Pradesh with the airway system which is considered the best among the other airway services.The city is having a well-connected intra & inter-city rail & road transport facility.The port serves as a major gateway for shipping products to Southeast Asian markets. The city’s port is very strategically located.The prime features that made the city a “Business City” due to following points that has attracted investors are: The multicultural environment of the city along with the high aspiration of the local genre to lead a high quality life made the city a right place for investment. Investors are profound to invest in the city due to its potential of great returns on their investments. The city has caught the attention of many investors around the world. As per the Swachhta Sarvekshan rankings of 2017, it is the third cleanest city in India. It has been selected as one of the Indian cities to be developed as a smart city under the Smart Cities Mission. Visakhapatnam is a major tourist destination and is particularly known for its beaches. Visakhapatnam Port is the fifth-busiest cargo port in India, and the city is home to the headquarters of the Indian Navy’s Eastern Command and South Coast Railway zone. The city is home to the oldest shipyard and the only natural harbor on the east coast of India. Located on the shores of Bay of Bengal, which is also called The Jewel of the East Coast or City of Destiny. Vizag is the second largest city in Andhra Pradesh having a total area of about 550 km. Visakhapatnam also known as Vizag is a coastal port city in the southern state of Andhra Pradesh.
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