The national highway between Vijayawada and Mangalagiri in Guntur district is showing signs of rapid transformation into an urban agglomeration with some big corporate houses taking up mega real estate projects.
One such massive residential venture coming up there is a luxury enclave being raised by Lingamaneni Landmarks Developers Private Limited (LLDPL) in close proximity to the premises of the Andhra Pradesh Special Police’s 6th battalion at Tadepalli.
The catch here is that Shapoorji Pallonji & Co. Ltd. (SP&CL) is the project’s main contractor.
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It may be noted that SP&CL is one of the two big companies constructing the Government’s interim secretariat complex at Velagapudi in Thullur mandal of Guntur district. Larsen & Toubro is the other company .
Named Mid Valley City (MVC), the LLDPL’s venture is apparently targeted at high income groups. It has state-of-the-art facilities for living, shopping and recreation.
The MVC provides an ideal residential location for government officers shifting to Amaravati from Hyderabad. It is barely 45-minutes drive from Thullur and other core capital villages by road and the nearest railway station is Mangalagiri which is situated on Vijayawada-Chennai route.
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It is coming up on about 16 acres and three high-rise towers of at least 19 floors are going to be its striking features.
It has 2 BHK and BHK apartments and separate villas with areas ranging from 1400 to 4700 sq. ft, with the rate pegged above Rs.6100 per sq. ft. This mega project is expected to be in good demand as the officers of various departments start shifting to Amaravati by June 15 and more in phases later.
A handful of such big and small projects are coming up as the demand appears to be high and would last for many years to come as the region becomes capital.
Capital Region Builders’ Association president N. Durga Prasad told The Hindu that projects like the one taken up by LLDPL near Mangalagiri would be lapped up by buyers over the next few years as the capital city starts taking tangible shape.
“Being mega projects, they will take not less than a year for completion. By the time they are fit for occupation buyers will line up. Their premium pricing will not be a deterrent as the demand is poised to look up.”
Mr. Prasad hinted at some other big names in the construction business acquiring stakes in this region and that enquiries are under way.
Demand for mega projects expected as officers shift from Hyderabad
to Amaravati soon