Best Localities to Invest in Visakhapatnam

Visakhapatnam also known as Vizag is a coastal port city in the southern state of Andhra Pradesh. The city is located on the coast. Located on the shores of Bay of Bengal, which is also called The Jewel of the East Coast or City of Destiny. Vizag is the second largest city in Andhra Pradesh having a total area of about 550 km.

The city is home to the oldest shipyard and the only natural harbor on the east coast of India. Visakhapatnam Port is the fifth-busiest cargo port in India, and the city is home to the headquarters of the Indian Navy’s Eastern Command and South Coast Railway zone.

Visakhapatnam is a major tourist destination and is particularly known for its beaches. It has been selected as one of the Indian cities to be developed as a smart city under the Smart Cities Mission. As per the Swachhta Sarvekshan rankings of 2017, it is the third cleanest city in India.

The city has caught the attention of many investors around the world. Investors are profound to invest in the city due to its potential of great returns on their investments. The multicultural environment of the city along with the high aspiration of the local genre to lead a high quality life made the city a right place for investment.

The prime features that made the city a “Business City” due to following points that has attracted investors are:

• The city’s port is very strategically located. The port serves as a major gateway for shipping products to Southeast Asian markets.
• The city is having a well-connected intra & inter-city rail & road transport facility.
• The city is well connected to the other major cities of Andhra Pradesh with the airway system which is considered the best among the other airway services.
• No shortage of power supply creates an important infrastructure for all the industries.
• Vizag is known for its top quality resources which are rich & natural.
• The most important aspect that the procedure of investment is simple & transparent.

• The city is home to several world-class educational institutions and state of the art research and development centers.

• Has a large consumer market.
• Government policies are very promising and invite new investments in the city.
• Vizag has a very proactive and responsible administrative set up.

• The city has a highly qualified and technically skilled work force.
• The city has a brilliant telecommunication system all over the city to enable easy communication.

Other than these advantages, the government of Andhra Pradesh, with a sight to attract more foreign investment in the city, provides tax benefits and other incentive schemes to investors. The government also helps investors study the current market system and gives them free access to natural resources.

In order to get the best facility,numerous foreign investors are willing to set up their operational base in Vizag.

The investors who are willing to invest, the city provides numerous options to enter with a wide range.

Some of the most prominent industries that promise great profitable returns include the pharmaceutical industry, automobiles industry, IT industry, etc.

Apart from the industries, Vizag gives the opportunity to invest in the real estate sector of the city. The growth of investment in the sector is mainly driven by an increasing demand for building residential places. For the people who come to the city from neighboring cities.

• Many prominent software companies have announced their plans of setting up offices in the city, Vizag real estate market prices are hiked
• VUDA has been launching several mega-housing projects in Visakhapatnam. These projects will have average and large-sized apartments.
• NRI are bringing specific projects being developed which are bringing new hopes in the market. The green area environment of Kapulauppadda & Rushikonda comes up with many luxury villas, farmhouses apartments specifically built for staying of NRI’s.

 

Madhurawada

Madhurawada has become one of the most favorable real estate destinations in Visakhapatnam. A prominent suburban locality on the Vizag-Vizianagaram stretch of NH5.  The reason for its rapid growth is due to its proximity to IT companies & industrial sectors located in and around the region. Also considered as rapidly growing destination for business establishments, sports venues and educational institutions.

Balaji Temple and Durgalamma Ammavaru temples have also marked a significant impression to the place around. Temple and the famous fantasy park called ‘Jatara’ are all located creates a scenic beauty. Thus attracts a huge crowd for this region. Increases the number of visitors various places.

Currently, Madhurawada is endorsing the development of large residential projects. The multi-level apartments are mainly serving the residential demand of IT/IIT employees working in nearby regions.

Since the property prices are so reasonable ranging from Rs 2500 to Rs 4000 per sqft also helps in better investment outcomes. The places are comparatively affordable as in compared with other developing areas having higher rates.

 

MVP Colony

MVP Colony is one of the high-class townships of Visakhapatnam city, also considered one of the largest colonies extent-wise in the Asian continent.

The giant colony is distributed into 12 sectors and is located between the NH5 and the Beach Road. MVP colony has created its own importance in the stream of real estate and also with passing years has achieved high development in physical & infrastructure.

Due to this entire MVP colony is one of the major commercial & residential hubs of the city.

MVP Colony sings own praises of good schools and colleges. More facilities for a comfortable living as of food centers, restaurants, hotel, clinics, banks, ATM’s shopping area, playgrounds increases the market value of the MVP colony.

Proper roads, regular water supply, proper electricity other commercial areas green clean areas, influences the real estate interest in this region.

All these factors have increased the property prices in this area every year since 2010 and are expected to go up, with due course of time. Presently the residential property price in this colony is fluctuating between Rs 3913–Rs 4400 per sq. ft.

The ROI in this well-developed area is certainly high and one can get good returns on investments made in MVP Colony.

Kapuluppada

Kapuluppada is a neighborhood situated on the northern part of Visakhapatnam City, India. The area, which falls under the local administrative limits of Greater Visakhapatnam Municipal Corporation, is about 25 km from the Visakhapatnam Railway Station.

Kapuluppada is a mandal and village in Visakhapatnam’s Bheemunipatnam district. Due to its proximity to the beautiful beach & imminent IT SEZ(Special Economic Zone) like Vizianagaram, Anakapallem and Bheemunipatnam; this is developing at a fast pace adding a great source to the real estate.

Due to the developmental activities undertaken by VUDA also surrounded by good number of educational institutions, Kapuluppada fulfills all the requirements of a well-developed locality.

There is ample of property available for sale, also in terms of investment in Kapuluppada. As VUDA is also playing a vital role in Kapuluppada.

VUDA also drew upon a clear process for allotment of plots and residential units in several areas of Vizag, including Kapuluppada. Such effort will further increase the supply of properties in the area and fulfill the growing demand for real estate in Vizag. The residential plot prices in this area are currently ranging between Rs 7478 – Rs 15054 per sq yard. In coming 5 years possibility for more development, activities by VUDA and proximity to suburbs is most likely to further increase the land prices in this locality.

Boyapalem

Boyapalem is a small but rapidly developing suburb in Visakhapatnam. It is located along the NH 5, while Visakhapatnam Railway Junction & the airport are situated to the nearby distance. With the presence of the good educational institutions around the area also upgraded the area & the market value of this region. Also with better connectivity with the nearby cities like Anakapalle, Bheemunipatnam. Property buyers and investors can find several VUDA approved plots and land with a few apartments for investment at affordable rates.

The ROI in this locality is average currently. Since there are prices rising in Vizag, it is only a smart idea to invest in a growing suburb like Boyapalem and take an advantage of the good returns in the long run. This can be a boon to the real estate segment as well.

 

China Gadili

China Gadili is a fast developing town in Vizag. It is getting a lot of real estate interest due to its proximity with Vizianagaram and Visakhapatnam cities and with the nearby airport. China Gadili is too equipped with all necessary amenities and facilities that are required for a good living. One can find a few plots and residential apartments for sale at affordable rates here and can also be beneficial for the investing purpose but at a low pace.

Akkayapalem

Akkayapalem is the most vibrant and oldest residential localities of Visakhapatnam. It is tactically connected to the NH 5. The locality which is known for lots of greenery and independent houses in the past era, has now given way to a number of apartment complexes with several flats casing with good educational institutions, playground, clinics, shops and ATMs in the vicinity.

The real estate rise in this region can be increased with the demand for residential units among homebuyers and investors and also due to the rise in property prices compared to last year. The property price in this area is currently fluctuating between Rs 3600-Rs. 4400 per sqft., which is an approximate 18% rise when compared to 2012. This makes Akkayapalem a profitable place for investment.

 

Desuparthrunipalem

Desuparthrunipalem is small town in Visakhapatnam. Commercial and industrial activities happening around the region has attracted the attention of the real estate & the investors which is turning out to be the boom for the money making.

With the locality offering all basic amenities and social infrastructure facilities like schools, colleges, temples, nice parks, clinics, etc., one can definitely look to invest here. Investors can find a number of residential plots, houses and apartments for sale. With the prices in this region being quite affordable; i.e., Rs 1150 per sq. ft., investing in a developing area like Desuparthrunipalem is expected to give you good returns in the long run.

Also several other localities have marked there footprints & joining hands for the investment purpose & making the city more prosperous.

Locality like:

PM Palem – A part of Madhurawada, located in the Greater Visakhapatnam Municipal Corporation area. This area is the chosen location for the real estate investors. The famous International Cricket Stadium Dr.Y.S.Rajasekhra Reddy ACA-VDCA is located here. Well connected to Gurudwar Jn(City bus Stop)& number of other buses also connects here from the major cities.PM Palem is also home for many educational institutions and commercial coaching & training centers.

Yendada – Yendada is also a neighborhood situated on Visakhapatnam & Madhurawada road. Yendada is counted among the developing region. With a rapid development real estate boom is also very high in this area.

Sheela Nagar – Sheela Nagar is a neighborhood on the southern part of Visakhapatnam City. The area which falls under the local administrative limits of Greater Visakhapatnam Municipal Corporation. Is about 13 km from the Visakhapatnam Railway Station. Sheela Nagar contains many large residential complexes. Sheela Nagar has the scope for very high development as it is surrounded by major areas like Gajuwaka and NAD X Road. The basic infrastructure like the roads, sewage and drinking water are better comparative to most other parts of the Visakhapatnam City. GVMC has taken over the Sheela Nagar area and bringing in the amenities needed like road, sewage and drinking water. There is a huge demand for land now in Sheela Nagar. Also, land prices are high in this area. Recently employees of PSUs like ONGC, HPCL, VSP, are investing in this area. Therefore increasing the real estate value on a large parameter.

Gajuwaka -The neighborhood of Visakhapatnam is considered the biggest shopping district in Andhra Pradesh by revenue. Though conceived as a residential locality, it is now one of the principal shopping districts of the city. Gajuwaka area of Visakhapatnam has highest per capital income in Andhra Pradesh. The neighborhood of Visakhapatnam is considered the biggest shopping district in Andhra Pradesh by revenue. There are a number of apparel, jewelry and utensil stores based in Gajuwaka. Gajuwaka is located about 8 km from Visakhapatnam with Airport of about 15 km from Visakhapatnam railway station. It lies in the south of City. Due to high progress rate of this area real estate has also taken into consideration to look forward.

Seethammadhara – It lies near the foot hills of the Eastern Ghats. It is quite pleasant. It is a pure residential area, with all most all the facilities one would need. This area is quite close to the Mother Nature, you won’t find the hustle and bustle of the city here. Along with all this area, Pendurthi and Sabbavaram are fastest developing areas which have a huge potential in real estate in residential plots. Sabbavaram is going to be the educational hub in future.

VIP Road, PithapuramColony, LalithaNagar,Vijayanagar, Anandapuram, Sontyam, Tagarapuvalasa, Bhogapuram, Simhachalam all these places are setting a benchmark for the better investment locality as well as residential living place. Also increasing the financial inputs of both the real estate & city.

Thus making the city more prosperous & wide in terms of all accessibility for best investment.

 

Here is the list of the projects in Vizag Click Here

You can also watch the videos of the projects Click Here

 

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