GVMC’s ₹4,180 crore budget a boost to Vizag’s infrastructure growth, says CREDAI

The ₹4,180 crore budget approved by the Greater Visakhapatnam Municipal Corporation (GVMC) for 2026–27 was welcomed by Confederation of Real Estate Developers’ Associations of India (CREDAI) Visakhapatnam chapter. CREDAI Visakhapatnam president E. Ashok Kumar described it as a strong growth driver and called it a sign of rising confidence in Visakhapatnam’s urban trajectory.

He said: “This is forward planning. When a city commits sizeable funds to infrastructure, it signals stability and direction. That matters to residents, investors, and financial institutions.”

“Consistent investment in roads, drainage, water supply, and public health supports sustainable growth. Better civic services improve quality of life, which directly influences homebuyers, businesses, and long-term investors,” Mr. Ashok Kumar added.

The budget allocates ₹1,028 crore for engineering works, ₹455 crore for public health, ₹363 crore for AMRUT projects, ₹260 crore for water supply, ₹200 crore through Finance Commission funds, ₹129 crore for lighting, and ₹36 crore for parks and related facilities.

“These are not routine expenses. Roads, stormwater systems, and water networks shape how people live and move. Reliable services make neighbourhoods more livable and raise long-term value,” he said.

Mr. Ashok Kumar noted that infrastructure-led development has a multiplier effect on real estate. “Better connectivity and civic amenities create demand for housing and commercial space. Developers gain confidence, buyers feel secure, and lenders are more willing to finance projects,” he said.

He added that balanced spending strengthens the city’s competitiveness. “Developers prefer cities where infrastructure keeps pace with expansion. These allocations reinforce Visakhapatnam’s appeal as an investment destination and will support steady growth in the real estate sector and related employment,” he said.

Calling the budget, a positive signal, he said, “The link between infrastructure and economic growth is clear. If execution matches the plan, the city is set for sustained, structured expansion.”