Realtors pin high hopes on Vizag property show

Visakhapatnam: Confederation of Real Estate Developers' Associations of India (Credai) is pinning high hopes on the response to the three-day 8th Property Expo being organised in Visakhapatnam, the proposed executive capital of Andhra Pradesh from December 23.

Elaborate arrangements are in place to make the event a grand success. About 100 stalls will be put up by the real estate developers, bankers, interior designers and other stakeholders to showcase and offer the opportunity to invest on the budget and area of their choice to buy their dream home. The phenomenal improvement in relaxation of curbs imposed due to the Covid-19 pandemic has further brightened their hopes of making it a big hit with a record number of foot-fall.

"Visakhapatnam has very good potential for growth due to firmness of the YSR Congress Party government to develop three capitals. The transformation of Visakhapatnam into the executive capital will certainly lead to spectacular increase in demand for housing. Hence, the property show will be a golden opportunity to the prospective home-buyers," local MP and MVV Builders Founder MVV Satyanarayana told Bizz Buzz.

The property show was organised last year after a halt due to the pandemic since it spread very fast in 2020. Last year, the turnout was around 20,000. This time, more people are expected. Various committees have been formed by Credai to oversee the arrangements for the property show.

Credai-Visakhapatnam's Chairman Bayana Srinivasa Rao said Visakhapatnam due to its robust industrial infrastructure has become a blessed city for growth in the realty sector. He said they are offering apartments, affordable housing, gated communities and villas to suit the budget of various sections.

Credai-Visakhapatnam held a curtain-raiser event here recently. It wanted to make this year's property show being held at Gadiraju Palace and Convention Centre, Beach Road in MVP Colony, a very big event. The main purpose of the expo is to bring all the stakeholders from the building industry that is buyer, seller (builder), financial institutions and other manufacturers of construction material under one roof and help the ordinary man to select his dream home from the variety of units that are on display at the expo.

Visakhapatnam has very good potential for growth due to firmness of the YSR Congress Party government to develop three capitals. The transformation of Visakhapatnam into the executive capital will certainly lead to spectacular increase in demand for housing

- MVV Satyanarayana, realtor and Visakhapatnam MP