Construction picks up pace in Visakhapatnam

Construction picks up pace in Visakhapatnam
18/11/2019 , by , in ALLIED

With more sand available now, construction work for 2,000-odd stalled residential and commercial projects in the district has again picked up pace. Developers are hopeful that they would finish the projects before the deadline and claimed that the delay wouldn’t have any major impact on the property price.

“As the supply of sand is now almost steady in the district, work at almost all stalled projects has resumed. Even if some of the projects miss deadline, it would be by a maximum of one or two months,” said NS Rao, a city-based realtor. Earlier there was fear that delay in work would see a steep rise in prices of flats in Visakhapatnam but realtors don’t think this would be the case. Specially because, there was sand scarcity for only about six months.

“There might be a minor appreciation at best. But this is not essentially for sand scarcity. Prices of building materials are also fluctuating,” said Kotteswara Rao, veteran realtor and former president of Credai, Visakhapatnam chapter.

Construction labourers who had migrated to states like Telangana or Tamil Nadu in search of jobs are also coming back to Visakhapatnam.

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