Prospective investors are on a ‘wait and watch’ mode until elections are over
Post-bifurcation, the Seemandhra region is likely to witness a barrage of investments. Reports indicate that big players in all the key sectors are keen on making huge investments to turn the coastal Andhra region into a well-developed destination.
“Vijayawada region will soon see big money coming in from all quarters and the infrastructure facilities are bound to improve manifold in the days to come. The prospective investors are on a ‘wait and watch’ mode until elections are over and the new governments are installed at the Centre and in the State,” says Vijayawada Hoteliers’ Association president K. Pattabhi Ram.
“The haze must clear before potential investors start setting up their projects here,” he says.
The local corporate sector is buoyed by the news that most of the big corporate houses, whose owners are from Andhra region, are contemplating shifting their registered offices to various parts of Seemandhra for tax benefit, he informed.Capital tangle
Confusion, meanwhile, reigns supreme among investors who have no clarity on the location of the new capital, the promised special status or others sops.
The UPA government at the Centre now talks of a special status for a period of five years against the demand for a 10-year-span by people of this region.
The Bharatiya Janata Party, cashing in on the current mood, has promised to extend the promised grant for 10 years.Real estate
Real estate is one area that has been witnessing a flurry of activity in the aftermath of bifurcation.Brisk business
“The volume of business has increased in the last couple of weeks. People have started buying apartments that had been lying vacant for want of buyers for last couple of years,” agrees R. V. Swamy, vice-president of CREDAI, Vijayawada chapter.
Sources indicate that a few big players in the realty sector have already acquired vast stretches of land on the city outskirts for developing mega ventures.
A couple of them are at Urmilanagar near Bhavanipuram iron yard and near Vaaradhi.
“Once the capital is announced and the new elected government is in place at the Centre and in the State, the region will witness a frenzy of activity in the infrastructure development sector. People of Seemandhra are very enterprising.
They will not let go of this opportunity,” says Gadde Rajaling, builder and president of Greater Vijayawada Builders’ Association.