Worrisome reports are emerging that the Real Estate in Vijayawada is not meeting up to the demands of the IT industry. One report said at least 30 companies are trying to find the necessary work space to set up their branches in the city but then could not find one after even an year of hunt.
[m9ad]
IT companies are looking for Office Space in Plug and Play model but then there is no such provision. In fact, Vijayawada alone has about 30000 apartments for sale but none of them can be used for IT companies. The condition in Vishakapatnam is also more or less they say.
Real Estate Experts say that Plug and Play Facility will involve an additional cost of 30% but builders are not ready to take such risk which will be a big burden. Especially as the future of these IT companies are not guaranteed. So, Vijayawada is losing in the IT race as a result.
