High-Potential Real Estate Hotspots: Vizag and Tirupati Take Center Stage
Vizag and Tirupati emerge as top destinations for real estate development, with infrastructure growth driving the market
Real EstateVizagTirupatiInfrastructure GrowthProperty MarketReal EstateJun 21, 2024
Visakhapatnam, in particular, is expected to experience accelerated growth across various asset classes, including residential, warehousing, retail, and data centers. The city's strategic location, coupled with its growing infrastructure, makes it an attractive destination for investors and developers. Industry insiders believe that the city has all the potential to emerge as a real estate hotspot among all emerging cities in the country.
For Tirupati, the impact segments will be residential, retail, hospitality, and senior living. The city's rich spiritual heritage, combined with its growing tourism industry, makes it an attractive destination for developers and investors.
Infrastructure growth remains a key catalyst for real estate development in both cities. Enhanced connectivity and increased manufacturing and industrial activity, driven by national infrastructure projects like the PM Gati Shakti initiative and national infrastructure pipeline, will lead to growth centers expanding beyond tier I cities. Smaller towns are expected to benefit significantly, with increased real estate activity in warehousing and residential segments.
KSRK Raju, chairman of CREDAI Visakhapatnam chapter, believes that the city has a positive outlook for real estate growth in the coming years. \
Frequently Asked Questions
What are the top emerging cities for real estate development in India?
According to a recent report by Colliers India, Vizag and Tirupati are among the top 17 cities with high potential for real estate development.
What are the impact segments for Tirupati's real estate market?
The impact segments for Tirupati's real estate market are residential, retail, hospitality, and senior living.
What is driving real estate growth in Vizag and Tirupati?
Infrastructure growth, coupled with enhanced connectivity and increased manufacturing and industrial activity, is driving real estate growth in Vizag and Tirupati.
What is the outlook for Visakhapatnam's real estate market?
The outlook for Visakhapatnam's real estate market is positive, with the city expected to experience accelerated growth across various asset classes.
What are the expectations from NRIs in Visakhapatnam's real estate market?
NRIs, who have stayed away due to political uncertainties in the last few years, are expected to invest again in the properties of Visakhapatnam.
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