AP CM Chandrababu Naidu Announces Amaravathi as Free Zone (02-01-2016)
Vijayawada and Guntur will be the two major urban centres that will benefit the most from Amaravathi coming up in a full-fledged manner as the new state capital. The strengths of these urban centres will be further harnessed. For example, Vijayawada will be promoted as the commercial capital and Guntur will be promoted as the knowledge hub of the state. Capital values, in emerging micro markets, of Vijayawada are in the range of INR 1,800-7,000 per sq ft. Some of these micro markets are Vuyyuru , Auto Nagar, Kannuru andPoranki.In the upcoming micro markets of Guntur likeUndavalli, Manglagiri and Gorantalacapital values are between INR 2,200-4,500 per sq ft.
The office rentals in upmarket localities of Vijayawada are around INR 60-70 per sqft in micro markets like Benz Circle , Bandar Road. At the lower end of the spectrum, however, rentals are between INR 10-15 per sqft in Patamata , Bhavanipuram and Maruthinagar. Guntur lacks quality office spaces and the average rentals in the office market are pegged between INR 30-50 per sqft in Brodipet and Arundalpet.and INR 10-15 per sqft in Lalpaet and Patnam Bazar.
