Real Estate Investment in Vijayawada Near Gannavaram

Rush To Make Investment in Vijayawada Near Gannavaram

Real Estate Investment in Vijayawada Near Gannavaram

Gannavaram, a locality situated roughly 20 km away from Vijayawada on National Highway 5, is offering the maximum number of residential plots across the city, according to Patni Properties listings. Most of these plots are open plots and are approved by Vijayawada-Guntur-Tenali-Mangalagiri Urban Development Authority (VGTM-UDA).

Plots having an area between 100 sq yards to 300 sq yards are priced from Rs 5-30 lakh. “Whatever residential land is left available in Vijayawada is available at very high prices and buyers seem not interested in such land,” says Mr Patni, Chairman of Patni Properties.

“However, Gannavaram is still offering residential plots at comparatively low prices. The reason for low prices is because the area is still developing and falls on the outskirts of the city,” he adds.

End-users are more in the area. “Most of the people who are buying plots here are middle class families who prefer to build homes,” says Mr. Patni, Chairman of Patni Properties. “Investor’s numbers are less and they prefer to buy big agriculture lands that are priced from Rs 50 lakh to above Rs 1 crore,” he adds.

So, why the area offers so many residential plots? Mr Patni informs that Vijayawada is expanding towards north, i.e. around NH 5. Gannavaram falls on NH5. Several major developments are happening in and around the locality. An IT Park is being developed in Kesarapalli that is 4 km away from Gannavaram.

“Gannavaram is witnessing maximum growth in and around Vijayawada. Vijayawada Airport, IT Park, Inner Ring Road, Outer Ring Road are being developed in and around the locality,” says Mr. Patni.

Real Estate Investment in Vijayawada Near Gannavaram

The all round development is driving the real estate sector as well. “Even with lots of Industrial Development in Vijayawada, the prices here are still affordable, but they will not remain the same for long,” says Mr. Patni.

Social infrastructure such as schools, colleges, hospitals, banks, commercial complexes, etc. is present within the radius of 5 km. Elure Canal supply water to the area.

When it comes to transportation, the area is way ahead. The government has proposed to upgrade the domestic airport present in the locality into an international one, which will enable landing of larger flights. At present, the domestic airport connects Gannavaram to Hyderabad, Bangalore, Chennai, Mumbai and Delhi.

An outer ring road is also proposed which once completed will connect National Highway 5 and National Highway 9. Inner Ring Road is almost complete. Both these roads will further improve Gannavaram’s connectivity to Vijayawada. Gannavaram Railway station and frequent bus services also allow people to commute easily.

Market experts say Gannavaram will witness maximum growth in real estate sector in next 2-3 years. “We are expecting a price hike of 20-30 per cent in residential properties in next 2-3 years,” says Mr Patni. With the unavailability of land and high property prices in Vijayawada, Gannavaram having affordable plots and good future prospects can be the area where you would like to buy plots.

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