Irrespective of location of the capital, property prices will not slide further and this is would be a good opportunity for prospectus buyers to buy new flats or houses in and around Vijayawada, CREDAI, Vijayawada, members observed here on Friday.
Nearly 200 residential and commercial projects are being taken up in and around the city.
Of these, majority of them are dotted in Gollapudi, Tadepalli, Bandar road, Gannavaram, Ibrahimpatnam, Poranki, Kankipadu and other areas. Most people, including those in Hyderabad are planning to own a house in the new capital.
Actually, there are enquiries from both local residents and those in Hyderabad to own a flat or independent house here.
Given the escalating cost of raw materials like cement, sand, probability of prices sliding down is almost ruled out, said Y.V.Ramana Rao, president of CREDAI, Vijayawada chapter.
Admitting that prices in core areas of the city were beyond the reach of middle and low income groups, he said more affordable housing projects would come up once Outer Ring Road and other mega projects were finalised .
Disclosing the details about CREDAI’s Property Show slated for January 3 and 4 at Sri Sesha Sai Kalyana Mandapam, Mr. Rao said that the show features apartments, housing complexes of leading builders in the city.
The objective of the property show was to help buyers to check the best projects underway in the city, under one roof and facilitate them in hassle-free buying, he said.
