VISAKHAPATNAM: With employment opportunities increasing in and around Atchutapuram of Anakapalle district, the real estate sector is slowly expanding in the locality. Some of the experts in the sector opined that people are looking for properties in parts of Anakapalle district as buying a home in Vizag city has become a distant dream for middle-income group.
Manufacturing units and pharma firms located in and around Atchutapuram have been creating jobs for the youngsters. Vibrant economy is the key for development of any locality as it provides wealth, opportunities, safe and healthy neighbourhoods and supports the funding of key infrastructure works and services. There is potential for real estate sector in Atchutapuram in the coming days, said a reputed realtor an and expert in real estate sector in Vizag city.
Around two lakh employees of over 100 industries in the surrounding areas of Atchutapuram have been waiting for the widening of the 14 km-road between Anakapalle and Atchutapuram into four lanes. Some employees are purchasing flats in Atchutapuram to live close to their workplace, said K Siva Prasad, an employee with a private firm in Atchutapuram. Employment opportunities in Atchutapuram and Anakapalle will further increase in the coming days as some firms are set to commence their operations, he added.
Once the road projects between Anakapalle and Atchutapuram, and Elamanchili and Parawada are completed, it will ease the travel of people on the stretch, apart from giving a big boost to industries, real estate and socioeconomic growth. Now, some of the middle-income group families are purchasing flats in Atchutapuram locality.
Salaried employees can afford flats in Atchutapuram where one may have to invest 30 to 35 lakh for a decent 2-BHK flat. Most of the ‘affordable’ housing projects in Vizag city are not affordable to the middle-income group. Slowly but surely, the real estate sector will witness a growth in Atchutapuram region, said B Sunil, a realtor in Vizag city. Some of the big realtors are also chalking out plans to launch housing projects in Atchutapuram. There is a need to improve the infrastructure to reduce the travelling time to Atchutapuram (90 minutes to 40 minutes) from Vizag city, he added.
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