VINAYAGAR PROMOTERS & BUILDERS
Vinayagar Promoters and Builders have been working on residential, commercial, and plotted projects for over 25 years. Kiran Kumar, one of the organisation’s Directors, shares his insights.
On-going projects
Several of our projects are currently lined up at RK Beach, CBM compound and Narsimhanagar. Commercial ventures at VIP Road and near Sampath Vinayak Temple are also catching pace.
Vizag Scenario
With Vizag being proposed as a capital city, real estate has started observing sudden changes. Of course, the increased demands are much welcomed by the industry. Also, since Vizag lacks sufficient projects on the commercial front, the number of projects is bound to increase.
Given the current boom of the real estate industry, it might not be surprising to note that developers will hold on to certain parcels of land as well. This pattern is likely to be observed mostly for projects in Yendada and Madhurwada, which are the current favourites for development, of both commercial and residential projects. With the current pricing approximately marking Rs. 4000/sft, it is certain to increase by another 25% in a month or two. Areas like Visalakshi Nagar and CBM Compound, within the city, have also been appreciating in value. The pricing at Visalakshi Nagar is approximately Rs. 80,000 to Rs.100,000/sq yd, while at CBM, it has skyrocketed to approximately Rs. 1.3 lakh to Rs. 1.5 lakh/sq yd.
Future
During this surge phase of real estate, we plan more projects on the outskirts and have already begun working on these. Our 10-acred land bank in Boyapalem will be developed into plots. As the apartment culture rises in the city, we see this as the best time to offer independent housing, with residential projects in these areas, owing to the lesser population density.
This story is from the February - March 2020 edition of Yo Vizag.
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This story is from the February - March 2020 edition of Yo Vizag.
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