The Andhra Pradesh government has taken a significant step in boosting the IT sector by allocating land to 5 major IT companies in Visakhapatnam. This decision aims to generate employment opportunities and further enhance the city’s development as an IT hub.
Key Highlights
- 5 IT Companies have been allotted land for setting up operations.
- Total Area Allotted: 10.29 acres
- Location: IT Hills in Visakhapatnam
- Estimated Investment: ₹15,266 crores
Development Details
- Target to complete development and start operations by March 2026.
- Land rates finalised by APIIC as per government norms.
Summary
This strategic land allotment by the Andhra Pradesh government not only signals growth in the IT sector but also presents excellent opportunities for real estate development in and around the IT Hills area of Visakhapatnam. The influx of professionals is expected to create a surge in residential and commercial real estate demand, making this region a hotspot for real estate investments.
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