Investing in real estate can be very lucrative in the long run. The steep increase in prices of real estate in the past couple of years has made it difficult for most mid- income groups of people to consider this as an investment option. Most people prefer staying in rented apartments else they have to move to the suburbs in case they want to purchase their own house. In the cities and towns now, there is a huge remand for commercial as well as residesntial property and not everyone can afford to buy their own. In such a situation, if one is buying a property it can be a good money spinner. One can give the property on lease or rent, to earn regular income. It can be the biggest asset one can have.
Vijayawada in Andhra Pradesh is one such emerging destination, where there is great demand for real estate property. It is the second largest city in the state of Andhra Pradesh. It is also famously known as the Business Capital of the state. It also has the title of the cleanest city in the state.
The rich and the affluent are buying properties here and building houses. Similarity many realty big wigs are showing keen interest in this area and developing properties here. As there is a lot of commercial development, they give their house for rent in Vijayawada, which earns them good income. Let’s look at some of the reasons why Vijayawada is become the not new property shopping destination among the rich here.
Agriculture- The soil here is fertile and hence there is a lot of agricultural land here. Other industries like Virginia tobacco, turmeric, cotton which are agro-based are located in and around here.
Other Industries– There are two big industrial estates here- one is Auto- Nagar and the other one is near Kondapalli. It is known as Auto –Nagar because it is the biggest Auto industry center in the whole of Asia! The other industrial estate near Kondapalli is very large spread across four hundred and fifty acres of land and there are more than eight hundred industries situated here. Petroleum companies like Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation (IOC), and Bharat Petroleum Corporation Limited (BPCL) use this area for storage of their products.
Additionally there are many industries manufacturing consumer goods, textile, agricultural goods etc. Vijayawada is a house to many small scale industries as well.
All these industries generate lakhs of jobs here. Hence there is a demand for housing by the people working in these areas.
Connectivity- It is very well connected to the rest of the country by roads, railways and airways. There are two National Highways running through Vijayawada – The NH16 and the NH 65. The NH 16 connects Chennai to Kolkata and the NH 65 connects Machilipatnam to Pune. There is a bus station called The Pandit Nehru Bus Station, which is one of the largest as well as busisest bus stations in India. The Andhra Pradesh State Road Transport Corporation (APSRTC) buses also operate from here. These buses are AC as well as Non AC buses.
It also has a railway station called Vijawada Railway junction and is one of the most important railway stations in the south. Again this is a very busy station; they handle more than three hundred and twenty trains a day, including passenger trains as well as freight trains.
There is a domestic airport located nineteen kilometers from Vijayawada city. It connects Vijayawada to all important cities like Delhi, Chennai, Bangalore and Hyderabad. There are plans to extend this airport as well.