NRIs

The real estate market in Andhra Pradesh is driven not just by local residents but also by Non-Resident Indians (NRIs). It ranks among the top five states in India a significant number of its inhabitants living overseas. Many NRIs show interest in purchasing residential properties, particularly in Visakhapatnam (Vizag).

Vizag is one of the rapidly expanding cities in India and serves as a major economic center for Andhra Pradesh, featuring transport systems that efficiently link the city with other parts of the country.

If you’re an NRI considering an investment in Vizag, it’s crucial to evaluate certain aspects to ensure you select the ideal property.

Consider the Location

When contemplating an investment in Vizag’s real estate, pay attention to the location. Assess the area for the potential emergence of industries, its closeness to the airport, transportation hubs, and industrial zones. An ideal combination of social infrastructure and green spaces can be very appealing.

Key investment areas in Visakhapatnam include Madhurawada, P.M. Palem, and Yendada to the north, as well as Seetammadhara, Akkayyapalem, and Murali Nagar in the city center, along with Gajuwaka, Pendurthi, and Anakapalle to the south. All these locations are conveniently situated within a 50 km radius, making transport easy. The IT Special Economic Zones (SEZs) and industrial areas are positioned at opposite ends of the city, creating an optimal scenario for employees to find housing near their workplaces.

Opt for a Quality Lifestyle

When selecting a property, search for options that provide amenities that align with your lifestyle. Common features found in many Vizag properties include recreational spaces, swimming pools, clubhouses, and gyms. Additionally, there are luxury gated communities that offer high-end comforts, a diverse atmosphere, and amenities comparable to top global standards. Take your time to explore all available choices before making a decision on a home.

Embrace Sustainability

In recent years, there has been a growing concern for sustainability, with emphasis on environmental protection and the reduction of carbon footprints becoming a priority. As awareness increases, homeowners worldwide are opting for properties that prioritize eco-friendliness. The real estate sector in Vizag is also embracing the green building movement, with developments incorporating sustainable practices such as waste management and rainwater harvesting.

Assess the Developer’s Credibility

For NRIs, it is vital to check the developer’s history and standing in the market to ensure trust and transparency. Reputable developers typically possess the necessary credentials and construction permissions and build in compliance with regulations. Most importantly, they should be registered under the Real Estate (Regulation and Development) Act (RERA), which minimizes the risk of any unscrupulous activities.