The steady growth of the port city, probably the one with a well developed industrial eco-system in the State, has witnessed the growing demand for housing, much to the delight of the real estate industry and now the sector is shifting focus on the pre-fabricated structures for early completion of the projects.
The real estate sector, which contributes one-fifth of the district gross domestic product, has the potential to become a key driver in the economy and even the government agencies are now mulling over ways to catalyse the growth in the sector. One of the key understandings of the situation is that there is a need to increase the number of housing units to be able to trigger a boom in the sector.
With the focus now on early completion of projects-- both pending and proposed—and give the space constraints in the city to stock the raw material, the realtors are inclined to promote pre-fabricated structures rather than in situ construction. The traditional construction not only is time consuming but also needs a lot of stacking area for raw material at the construction site. On the other hand, the pre-fab units are structurally better and are properly cured.
At a recent event, the Police Department wanted to go for pre-fabricated houses to replace the existing police quarters to ensure better quality residence for the personnel at the earliest. Further, the State government that has proposed to build more than 10,000 housing units in the three north Andhra districts to house the victims of Hudhud Cyclone intends to take the pre-fab route.
The government agencies perceive the early completion of these structures would trigger a growth in the real estate sector and thereby take the district GDP growth rate into double digit.
(Reporting by
G.S. Subrahmanyam)
