Realty Beat India

Visakhapatnam Development Expectations Under New Government, ET RealEstate


<p>File Photo</p>
File Photo

VISAKHAPATNAM: With the recent change in leadership in Andhra Pradesh, residents of Visakhapatnam are eagerly anticipating how the new government will prioritise their city in terms of infrastructure, development, investments, industries, and job creation. The landslide victory of the TDP extinguished hopes of the city becoming the executive capital.

Numerous proposals such as the metro rail project, Bhogapuram beach corridor, Polavaram drinking water supply pipeline, UGD project and water supply project for Madhurawada and other suburbs, Adani data centre project, IT concept city project, skill university, flyovers along the national highway passing through the city, and several tourism initiatives have languished unrealised over the past five years.

Aside from completing the NAD flyover project, the city has yet to see any new flyovers to alleviate traffic congestion. The Bhogapuram international airport stands out as the major project that has been launched and is currently progressing.

There has been no progress even on the south coast railway zone works either. Union railway minister Ashwini Vishnaw said a few months ago that the state has not provided the required land for the headquarters development in Visakhapatnam.

During its previous tenure, the TDP championed Visakhapatnam as an industrial and IT hub, hosting numerous investment summits and international programmes between 2014 and 2019. Back then, the city was also projected as a fintech and academic hub. Despite the YSRCP government’s proposal to designate Vizag as the executive capital, it did not materialise due to legal challenges and technical obstacles.

Local residents are now hopeful that attracting more industries, investments, and IT companies will enhance the city’s employment prospects. Visakhapatnam is home to several prestigious institutions such as Andhra University, IIM Visakhapatnam, Indian Institute of Petroleum and Energy, Damodaram Sanjivayya National Law University, and Indian Maritime University, alongside various private universities and colleges. The future trajectory of Visakhapatnam, especially after the dashed hopes of becoming the executive capital, remains interesting to observe.

Following the previous government’s 2019 announcement of making Vizag the executive capital, there was a surge in real estate transactions and pricing of plots and flats. However, the real estate sector has plateaued in recent years, pinning its hopes now on the new government.

Meanwhile, chief minister N Chandrababu Naidu and IT and HRD minister Nara Lokesh have announced a special focus on developing Visakhapatnam as a key economic hub of the country.

Recently, Vizag has been identified as one of the four pilot cities by Niti Aayog under an initiative focusing on conducting a baseline study, devising a robust economic growth strategy, and preparing a roadmap to achieve these goals. This initiative presents a promising opportunity for the state government to realise its developmental and economic objectives.

  • Published On Jun 19, 2024 at 02:00 PM IST

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