DLF may invest in biz, residential projects in Amaravati, Vizag

Amaravati: Realty major DLF is likely to invest in business parks and high-end residential projects in the capital city of Amaravati and the largest commercial hub Visakhapatnam going by indications.

After the Naidu-Singh meeting on the sidelines of Raisina Dialogue in New Delhi, a DLF delegation is expected to visit Amaravati to explore various opportunities. The development has created the buzz about DLF entry with a big bang to spell a realty boom with a possible skyline shift with highrises.

After Andhra Pradesh Chief Minister N Chandrababu Naidu made a strong pitch to the DLF management to take up various projects in the State after he showcased the goals set in Swarnandhra Pradesh Vision-2047, DLF Chairman Rajiv Singh regretted having not accepted Naidu's invitation to invest in Raidurg in Hyderabad, during his earlier stint at CM of united AP 25 years ago. Now the area has turned into a thriving commercial hub and part of the IT revolution in the city, at a close distance from Hitech City and Narakaramguda

Recalling what he termed a 'missed opportunity,' Singh later felt sorry for not gabbing Naidu's offer to develop a barren parcel of land at Raidurg two and half decades ago. Singh was quoted as acknowledging missing out a significant investment opportunity in Hyderabad and gave enough indications, this time they will not miss accepting requests for partnership in taking up promising projects in Amaravati and Visakhapatnam.

Raheja Group is now on verge of completing work on Inorbit Mall, touted as one of the largest, on a land given on lease by Visakhapatnam Port Authority (VPA). Raheja Group has also been allotted land in the city for construction of an IT park. It has evinced interest to construct an IT tower in Madhurawada area.

After the exit of Franklin Templeton, Adani and few other companies have been given clearances to develop commercial buildings. Abu Dhabi-based LuLu Group has been given prime land in the heart of the city to build a five star deluxe hotel , a multiplex and an international convention centre. Vaisakhi Developers has already sought permission from the authorities for building G+37 residential towers at Madhurawada. Varun Beach Sands by Varun Group has already started work on twin G+25 towers.

After meeting Rajeev Singh, Naidu took to X, expressing his satisfaction over talks with him. He said "We had an engaging discussion on the rapidly evolving real estate landscape in Andhra Pradesh. I shared our vision for the development of Amavarati and Visakhapatnam as world-class urban centres and invited DLF to be part of this transformation."

The Chief Minister said "I look forward to welcoming this premium real estate brand to Andhra Pradesh and exploring opportunities to create landmark developments in our State."