The Visakhapatnam real estate market received a significant boost as the 11th edition of the CREDAI Property Expo concluded with resounding success. Held over three days at the Gadiraju Palace Convention Centre on Beach Road, the event attracted a remarkable crowd of more than 14,000 visitors, signaling strong market sentiment.
Strong Footfall and High-Intent Buyers Drive Engagement
The expo became a major hub for property seekers, including families, first-time homebuyers, investors, and non-resident Indians. Leading developers from the region showcased a diverse portfolio of over 850 residential and commercial projects. Banks and financial service providers were also present, offering on-the-spot housing loan consultations and support.
Developers reported that visitors showed serious intent, spending considerable time comparing various offerings. Key points of enquiry included pricing, statutory approvals, and construction timelines. The segments that garnered the most attention were affordable housing, gated communities, villas, and ready-to-move-in homes.
Official Endorsement and Regulatory Reforms
Addressing the valedictory function as the chief guest, GVMC Commissioner Ketan Garg emphasized the emotional significance of homeownership. He highlighted the rapid growth of Visakhapatnam's real estate sector in recent years.
Commissioner Garg pointed out that the recent amendments to the Building Rules, 2017, are designed to promote safe, sustainable, and investor-friendly urban development. CREDAI officials acknowledged that reforms spearheaded by Garg, particularly faster building plan approvals, have provided a substantial boost to the sector and are set to transform the city's real estate landscape.
Exceeding Expectations and Smooth Execution
E Ashok Kumar, President of CREDAI Visakhapatnam, stated that the public response surpassed all expectations. The event recorded strong footfall, quality enquiries, spot bookings, and scheduled follow-up site visits.
Chapter Secretary V Sreenu credited better layout planning and effective crowd management for ensuring smooth visitor movement and productive interactions between buyers and developers.
The expo also featured the presentation of the B.R. Raju Memorial Awards 2025 to meritorious B.Arch students of Andhra University. The event recognized hoarding sponsors and presented awards to winners in the Builder and Building Material Supplier categories. A highlight was the bumper draw, where a walk-in visitor won a Honda Activa Electric two-wheeler sponsored by Hamsa Honda.
The convenor of the Expo, Ch. Govida Raju, and CREDAI Andhra Pradesh President Bayana Srinivas Rao also addressed the gathering, underscoring the event's role in catalyzing growth in the regional property market.
