Major IT investments will give real estate sector in Vizag region a boost, says CREDAI Chairman

The real estate sector in Visakhapatnam is poised to enter a growth phase, driven by large investments and improved infrastructure in the region. The announcements on projects such as the Google Data Centre, investments by TCS and Cognizant, and Aviation City have spurred demand, according to CREDAI Visakhapatnam Chairman V. Dharmender.

Addressing the media on Wednesday, Mr. Dharmender said that the 11th CREDAI Property Expo, scheduled to be held from December 19 to 21, aims at taking advantage of the positive outlook in the real estate market.

North Andhra region is witnessing a shift from outward migration to attracting skilled professionals, supported by continued investments, the upcoming Bhogapuram International Airport, and Visakhapatnam’s role as the headquarters of the Regional Economic Zone. These factors would support balanced growth in infrastructure, tourism and clean industries in line with the Viksit Bharat 2047 vision, he said.

CREDAI Visakhapatnam president E. Ashok Kumar said development activity has picked up across sectors during the NDA government’s tenure. “The property expo will give buyers a platform to assess projects and make informed choices, benefiting price-conscious customers by offering verified options at one venue,” he said.

Municipal Administration and Urban Development Minister P. Narayana is scheduled attend the inaugural function on December 19, while the Tourism Minister Kandula Durgesh would attend the valedictory on December 21.

CREDAI Visakhapatnam honorary secretary V. Sreenu said the property expo has become an annual platform reflecting the collective strength of the builder community. He said the 11th edition is being organised on a large scale, aided by recent government initiatives supporting the construction sector.

Property expo convenor Ch. Govinda Raju said the expo will have 71 stalls in various categories, with banks and financial institutions offering on-the-spot approvals. As part of CSR initiatives, stalls have also been allotted to Andhra University’s Architecture Department, ISKCON, Apollo and GITAM.