YSR Housing Colonies Boosting Realty Growth in Vijayawada
The real estate sector in the city is witnessing a boom with houses coming up at YSR Jagananna colonies. Land rates in the colonies and in their proximity have skyrocketed. With these areas becoming the prime choice for many buyers from the middle class, promoters have started housing projects in the hopes of higher demand. The development is likely to offer some relief to the real estate sector, which is still recovering from the blows dealt by the pandemic. Thousands of flats in apartment complexes remain unsold and many ventures that were taken up in Amaravati Metropolitan Region Development Authority (AMRDA) continue to remain stuck. Now, house sites issued by the state government have become a ray of hope for real estate promoters. Though government housing colonies are located outside the city, many from low income groups have started constructing houses here. Areas such as Vikas College Road of Ninna and Vanukuru in Tadigadapa municipality are turning into prime locations for real estate ventures.
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