How Visakhapatnam is a Boon for Real Estate Developers

Vizag comes under the Smart City Project, announced by PM Narendra Modi that each state will get at least one Smart City, In PM Modi's words about smart city - very high quality of life comparable with any developed European city.

The Narendra Modi government has provided a list of 98 cities, including 24 state capitals for its ambitious Smart Cities project. The list includes 13 cities from UP, 12 from Tamil Nadu, 10 from Maharashtra, 7 from MP, and 3 each from Bihar and Andhra Pradesh (Visakhapatnam, Tirupati and Kakinada.)

Smart City means high quality living, clean roads, IT hubs, and more employment and growth in the real estate market. It would be helpful for urbanisation. It has not only a few hours of water supply a day, or electricity that goes off for several hours, or streets littered with garbage. The appearance of the city has to be pleasing and clean. There would be high chances to make the tourist sector more attractive and it will lead to earn more dollars and it is also a big opportunity for the Real Estate sector as it would be a very good investment for the investors with a long-term vision.

The Vizag already the hotspot for real estate investments. It is just picking up pace and the revised land values and sales would pick up as the conditions are most favourable for buyers in the recent times and would be more favourable when Vizag will become the Smart city. Visakhapatnam city is emerging as an alternate destination for Hyderabad as there are big IT hubs of Andhra Pradesh.

The foremost reason for boom of real estate in Vizag is higher demand than supply for last 2-3 years. According to Survey, 10% to 15% hike observed in property sales. Addition to this the NRI people also showed the interest in investing in city and it will be increased by 60%-70% in coming years. As a buyer will get the best residential property in his/her budget.

The properties near to beaches or ocean views are getting more attention like TheCelest upcoming real estate project in Gajuwaka offering 2 and 3 bhk luxury flats and duplex apartments are getting more attention of buyers.

The VUDA (Visakhapatnam Urban Development Authority) has also boosted the growth through investing in residential and apartments projects in Visakhapatnam.

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Vizag Embraces New Wave of Residential Developments

Vishakhapatnam,the most talked about city in terms of tourism in Southern India has now started gaining attention from various other sectors like IT & Real Estate. The city is now all set to witness one of the biggest Real Estate developments in the times to come. Until now the market seemed to be slightly sluggish, but as private companies have started investments, the demand for residential locations has gone up considerably. Several Real Estate players like The Celest, Vaisakhi & many other have already paved their way with their dream projects in this city which seems to offer ample opportunities.

VISAKHAPATNAM seems to be the next hotspot destination for residential as well as commercial Real Estate development. With basic infrastructure already present & connectivity being sound, it is now believed to be the next IT hub of Southern India. After the creation of Telengana as a separate State, and release of significant Central Government funds for the development of Andhra Pradesh, the potential for growth has been augmented.

New Residential Projects in Vizag-Boon for residents

Private sector companies have started making their way into the city of Vizag which is witnessing significant demand for both residential and commercial development. Growth is expected not just in city but also in the suburbs of the city for premium properties. Realtors have highlighted that areas like Gajuaka, Bheemili, Anandapuram will continue to attract the interest of investors. Companies like IBM, Tech Mahindra have their establishments already set up in the city & several new are expected to be part of it which will further encourage to the housing demands.

With constant support from the Central Indian Government, as well as investments from private sectors, the city’s social infrastructure has already been enhanced tremendously & it meets all the prerequisites that property buyers would love to have.

Several large and small scale real estate developers are set to launch their upcoming projects in the city. One of the most premium projects being The Celest. The Celest, is a premium project by the private equity arm of SRS Private Investments. SRS being pioneer in providing luxurious living experience highlights its real estate portfolio in large residential projects, commercial offices, hospitality & retail projects in India’s metros & upcoming ones in cities including Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, Bhubaneswar, Trivandrum & Visakhapatnam.

The Super Luxury apartments in Vizag, offered by The Celest are situated in one of the best & convenient locations on NH5. The project provides easy access to all facilities such as airport, schools, hospital, banks & many large organizations. The Luxury apartments for sale in Vishakapatnam offer superior features and amenities which are spread over 35,000 sqft . The Celest includes a luxurious club house built over 4 floors offering a wide range of sports facilities - 2 swimming pools, gymnasium, cricket net, badminton, jogging tracks & extensive indoor games. Spread over 6 acres of landscapes, these smartly designed 2 BHK, 3 BHK apartments & Duplexes are 3 side open & fully compliant with Vaastu. It also offers first upcoming air conditioned retail shopping plaza for your end to end daily shopping requirements. Its a one stop shop modern retail centre which is spread across 4 floors & incubates well known brands in fashions, convenience marts, restaurants.

With developments at such an alarming rate, a positive buzz has already started developing around Visakhapatnam, which surely will have a direct impact on the real estate market.

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Five Steps to Consider While Buying First Investment Property

Do you know real estate investment can do lot of wonders for your financial future?

However, just because doing investment in real estate delivers stellar returns does not mean it can definitely help you reap potential rewards if not researched meticulously. Secret behind getting those great returns lies in understanding fundamentals of what makes a great real estate investment and focusing on buying only the best real estate.

If you start investing without any research, planning or knowledge it can even hurt you with sheer wastage of your money and time. I am sharing this from my personal experience. I know that financing your first investment property can be daunting task. Just follow these few steps before you buy your first investment property-

1. Think about what you are buying : Make a proper list of what do you want in your own flats/apartments/home. Investors have different goals in mind. Some want to buy a rehab property, fix it up, and sell it quickly for a big profit. Others specialize in pre-construction,

which means they put a contract on a home in a development before it is built and

then sell it for a profit, some buy for renting

ouse to get the profit for indefinite years. Whatever the objective may be for investing in property but you should know the numbers including the cost of financing, a down payment, advisor fees, repairs, etc.

2. Find a suitable property/ Property Research carefully :

Do a proper research for the property whether you are selecting a residential investment property, commercial investment property, or even a holiday rental investment property there is ample opportunity to invest.

• Location: Find it out whether the property is conveniently located & is well connected or is likely to experience property price growth?
• Demographics: Is the property suitable for the type of tenants in the area, e.g. low-maintenance apartments for young professionals?
• Infrastructure: Is there appropriate infrastructure in place, such as transport, shops, cafes and schools?
• Development: Is there any development planned for the area that may improve existing infrastructure, leading to possible improvements in tenancy rates or price growth?

3. Planning : The biggest reason many investors lose money - whether in stocks, mutual funds, real estate, or business is due to lack of planning. You would not consider driving from Mumbai to Vizag knowing only that the direction was “somewhere south.” A plan will help you get from where you are right now to the place you want to someday be. It helps you to reduce the risk of wasting money and time.

4. Gather Your Paperwork : Be prepared to provide copies of six month’s bank statements, investment account with retirement account statements,the last two salary slips if you have a regular paycheck job, driver’s license and Social Security card, and bankruptcy, divorce or separation papers, if applicable. If you are self-employed, you may be asked for some or all of the following: business license or occupational license, letter from your CA establishing two years self-employment, last two year's tax returns, business bank statements, and business financial statements.

5. Get Pre-Approved : Before you start house-hunting, get pre-approved for a loan through a broker or lender, and request it in writing. That piece of paper can be very helpful when you negotiate the purchase of a property since it gives the buyer greater assurance that you won’t tie up the deal and not qualify.

In addition to this, if you you are looking for best investment property option then go with the TheCelest – First FDI real estate project is offering luxury home in Visakhapatnam, 2 and 3 bhk flat and duplex apartments in Visakhapatnam. Buy 3 BHK apartment in Gajuaka, these apartments are luxurious and offer world class amenities.

For more details, you can visit the website: https://www.thecelest.com

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Upcoming Real Estate Project in Vizag

The Vizag (Visakhapatnam) is the city of future due to heavy investments made in logistics and several public and private sector industries. Nowadays the place has become one of the most industrialised cities of India. As we all know that Visakhapatnam known as the steel city of Andhra Pradesh.  Today, Visakhapatnam has turned out to be a major Industrial center in the entire South of India. Many Major and Minor industries are located in the Industrial Zones such as the ones near Gajuwaka and Industrial Estate areas.

The Govt. of Andhra Pradesh has provided the investor-friendly Industrial Policies with the coordination of Govt. Of india. This is helpful for people to invest in the Vizag to get the high returns. As we seen the Real Estate industry from last few years, they are growing day by day.

Visakhapatnam is catching up with offshoring saga and MNCs such as Satyam Computer Services Limited, Wipro and Infosys are serious about having their IT Units in Visakhapatnam. This leads to a burgeoning demand for good quality commercial space and technically skilled manpower due to which the demand of residential property in Visakhapatnam is raising.

Mentioned below are the list of upcoming residential projects in Vizag:-

1. The Celest : Vizag’s First FDI Real Estate Project in Gajuwaka, Vizag. It is spreading over 6 acres area and offering Spacious 2 & 3 bhk Apartments and Duplex Apartments.

• Vastu compliant homes with Puja rooms
• Large balconies with great views and utility areas
• Passive Energy Architecture for minimizing energy
• Amenities spread over 35,000 sq ft including a luxurious club house, two swimming pools, landscaped gardens
• 2 full size swimming pools and a separate pool for kids and a large banquet hall overlooking the swimming pool
• Indoor games - card rooms, table tennis, snookers, chess, carrom board, yoga room, etc.
• Located on NH-5 with a 200 feet frontage on the NH-5

2. Vision Country : After 24 ventures BHASHYAM DEVELOPERS is coming up with amazing VISION COUNTY BHASHYAMS 25th Silver Jubilee project joint venture with sri shanthi corp, with VUDA

• VUDA approved Layout
• Gated community
• 24 x 7 security
• Entrance gate with beautiful arch
• Compound wall for entire layout
• All B.T. Roads
• Electricity (with transform and street lights)
• Drainage and Footpath with design tails
• Overhead water tank and Water harvesting pits
• Clear title freehold land plot boundary wall
• Society boundary wall corner plot
• Adjacent to main road park/ green belt facing
• Water and electric connection  flats, swimming pools etc.    

3. Abhilash Anand Arcade : This is one of the super luxury apartments developed by Abhilash Synergetic Constructions. The residential development is located in Vishakhapatnam. The project offers 2BHK and 3BHK flats at very competitive and affordable price. It is well planned and is built with all modern amenities.

• Total area is 1.5 Acres , number of Blocks-3, floors number are 5
• Putty finished interior walls with plastic emulsion paint
• ISI Quality of wiring and Standard Teak wood entrance door
Sal wood for doors and window frames
• Flush shutter interior doors and 7 feet height dado work in toilets
• All European toilets unless preferred otherwise
• Superior Quality PVC pipelines
• Kitchen with black granite platform along with 2ft dado work
• Backup Generator facility for common lighting, motor and lifts
2'x2' Size Vitrified Tiles

The above mentioned projects are in your budget and you are delighted to get such a luxury apartments and flats in Visakhapatnam at reasonable prices. The small business owners, IT employees and others can easily buy these projects and those who are planning to invest in property, this is best option to have a look over these projects..

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