Executive capital tag a boost for Vizag realty: TTD Chief

Visakhapatnam: There is huge demand for housing in Visakhapatnam following the decision of the YSRCP Government to make Visakhapatnam the executive capital of Andhra Pradesh, said TTD Chairman SV Subba Reddy on Sunday.

Speaking as the chief guest at the valedictory of three-day Credai Property Expo organised here at Gadiraju Palace Convention Centre on the beach road, he said Visakhapatnam with its cosmopolitan culture and robust industrial infrastructure and connectivity has a bright future ahead.

Reddy, who is the regional coordinator of YSRCP, said Visakhapatnam is the only big and fast growing city. As a large number of people migrate to Visakhapatnam to settle down, Credai-Visakhapatnam chapter, which organised the three-day property show with over 100 stalls to showcase housing opportunities in and around the city under one roof, said has a key role to play in providing houses to all, specially to the middle class.

Top priority should be given to affordable houses, he said adding the government is keen to develop Visakhapatnam as the executive capital and assured that they will extend all help to the realty sector as per the priorities spelt out by Chief Minister YS Jagan Mohan Reddy.

The TTD and Chairman recalled a number of problems like Transferable Development Rights (TDR) and Real Estate (Regulation and Development) Act related issues, impact fees as per the new Master Plan, Vacant Land Tax (GO issued but not implemented) and other pertaining issues that were brought to his notice earlier. He said that the issue of TDR was brought to the notice of the Chief Minister and he had ordered an enquiry into the issue and the required action will be taken soon. The delay in getting permission from RERA will also be looked into, he promised.

Reddy said that the government is seized of all issues and will find solutions soon. Expos like the present one will help all stakeholders and enable home buyers to choose their dream house at the place of his choice at an affordable price.

Earlier, the TTD Chairman was received by the Credai local chapter chairman Bayana Srinivasa Rao, president KSRK Raju, honorary president E Ashok Kumar, convener V Sreenu. Later he presented the BR Raju Award to the meritorious students of architecture from Andhra University.

Earlier, Credai office-bearers explained that the purpose of the expo was to bring all stakeholders under one roof and enable the prospective buyers to choose from among the many projects showcased at the property show.