Madhurawada IT Park was established in the mid–2000s, and land allotment began soon after. By 2009, Hills No. 2 and 3 were fully occupied. Symbiosis technologies were the first company to set up camp on the premises, and many IT companies such as Southerland, Kennexa, Mahati Software, SoftSol, InfoTech and Sankhya Technologies followed soon after. The area received a face lift in the form of street lighting soon after. Recession notwithstanding, the employment in the IT zone went up phenomenally, with almost 20,000 jobs being created by 2011. The USP of this place is that it is the ideal low-cost destination for commercial purposes. However, basic amenities still continue to elude the IT SEZ. Transportation, power and connectivity remain the major problems. APSRTC buses still haven’t extended their services till the park. Due to the same the IT SEZ today has only 15 firms out of the 100-odd IT/ITES players that rule the roost in Vizag. The government is now looking to change the laws and rules and develop the area to give a boost to commercial activity.
However, the development of the Madhurawada IT Park has been a blessing in disguise for the region – the real estate activity has increased manifold. As the IT Park developed, more and more IT professionals came to work to Madhurawada–Rishikonda. Although the area is located a mere 16–18 km from the main city, commuting the same distance for work every day can get difficult. Hence, people began to look for homes in the region. Capital values for residential property in the region have increased from INR 2,500/sq. feet two years back to around INR 3,000/sq. feet today. Gated communities have sprung up, and social infrastructure, such as schools, hospitals, banks and ATMs, restaurants, bus stations, parks, supermarkets and grocery stores and places of worship, has come up in a big way. The undisturbed, pristine green cover is also an added benefit – the area is peaceful, quiet, serene and away from the hubbub of the inner parts of the main city.
One such secure, luxurious and affordable gated community in the vicinity is that of Shriram Panorama Hills, which is situated in Yendada, just around 8km from the Rishikonda SEZ. Strategically built right between the Simhachalam forest range and the panoramic Beach Road, Shriram Panorama Hills has a range of housing options including apartments and villaments at prices that suit a wide range of budgets. Armed with a host of contemporary amenities and green cover within the complex itself, the project is worth checking out.
Find sea facing apartments for sale at Panorama Hills
However, the development of the Madhurawada IT Park has been a blessing in disguise for the region – the real estate activity has increased manifold. As the IT Park developed, more and more IT professionals came to work to Madhurawada–Rishikonda. Although the area is located a mere 16–18 km from the main city, commuting the same distance for work every day can get difficult. Hence, people began to look for homes in the region. Capital values for residential property in the region have increased from INR 2,500/sq. feet two years back to around INR 3,000/sq. feet today. Gated communities have sprung up, and social infrastructure, such as schools, hospitals, banks and ATMs, restaurants, bus stations, parks, supermarkets and grocery stores and places of worship, has come up in a big way. The undisturbed, pristine green cover is also an added benefit – the area is peaceful, quiet, serene and away from the hubbub of the inner parts of the main city.
One such secure, luxurious and affordable gated community in the vicinity is that of Shriram Panorama Hills, which is situated in Yendada, just around 8km from the Rishikonda SEZ. Strategically built right between the Simhachalam forest range and the panoramic Beach Road, Shriram Panorama Hills has a range of housing options including apartments and villaments at prices that suit a wide range of budgets. Armed with a host of contemporary amenities and green cover within the complex itself, the project is worth checking out.
Find sea facing apartments for sale at Panorama Hills
0 comments:
Post a Comment