Vizag Attracts Major Realty Investments Amid Growing IT Potential

Visakhapatnam is emerging as a magnet for leading real estate developers, with several high-profile commercial and residential projects in the pipeline.

The State Investment Promotion Board (SIPB), chaired by Chief Minister N. Chandrababu Naidu, has greenlit major proposals that underscore the city’s rising status as an investment destination.

Among the standout projects is a Rs 2,172.28 crore mixed-use development by K. Raheja Corp in Madhurawada. The company has been allotted 27 acres of land. Of this, 15.51 acres will be dedicated to commercial space, and 11.59 acres to residential units.

“We’re exploring Vizag as a market due to strong support from the state government and the Chief Minister’s call to invest here,” said Shrawan Kumar Gone, COO of K. Raheja Corp for Andhra Pradesh and Telangana. He also pointed out that IT companies are increasingly turning to Tier-II cities like Vizag. Lower costs and less congestion make these cities an attractive alternative to saturated metros. Raheja Corp is also set to open a shopping mall in Vizag by mid-January.

This momentum is further bolstered by Sattva Group’s Rs 1,500 crore investment in an integrated IT campus on 30 acres. The Sattva Vantage Vizag Campus will feature state-of-the-art office spaces, residential accommodations, and infrastructure designed for the modern workplace.

In another strategic move, the government has signed an MoU with ANSR, a global leader in capability centers. The MoU will facilitate the creation of an innovation campus to support multinational companies looking to set up operations in the region.

With a growing portfolio of high-value projects, Visakhapatnam is positioning itself as a burgeoning hub for real estate and IT development in Andhra Pradesh.