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Real Estate Trends in Vishakhapatnam

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Real Estate Trends in Vishakhapatnam

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  • #71


    Re : Real Estate Trends in Vishakhapatnam

    Affordable realty lures buyers to Vizag-Vizianagaram belt

    VISAKHAPATNAM: Realtors in the districts of Visakhapatnam and Vizianagaram are rubbing their hands in glee as the demand for plots in the Vizag-Vizianagaram belt is witnessing a steady growth, which they claim is on account of the sharp increase in realty prices in the capital region of AP.

    Soaring prices in the Vijayawada-Guntur region and steady growth in the prices of plots located on the outskirts of Vizag, are prompting buyers to look at realty in the Vizag-Vizianagarm belt as it is more affordable. Also it is not just buyers from the capital area but also those from Hyderabad that are lapping realty up in the belt, claim realtors.

    According to realtors, while Anandapuram, Tagarapuvalasa and Bheemili have witnessed a nearly 30-40% hike in prices during the last six months on account of various announcements made by the AP government such as the greenfield international airport at Bhogapuram, convention centre at Madhurawada and IT Layout at Kapuluppada, many of the plot purchasers are now looking at the road leading to Vizianagaram for affordable investments in the range of Rs 5,000-6,000 per square yard. Also, realtors point out that Kothavalasa and S Kota are being sought after by customers as land there falls under the price range of around Rs 4,000-5,000 per square yard.

    "No plots are available in Anandapuram, Tagarapuvalasa and Bheemili area for anything less than Rs 10,000-12,000 per square yard these days. So if a person wants to buy a 100-square yard plot in this area, he has to shell out at least Rs 10 lakh, which is not exactly affordable for everybody," said B Narayana Rao of Visakha Real Estates.

    "Instead people are looking at the road towards Vizianagaram after the Y Junction, where the prices are hovering around Rs 5,000-6,000 per square yard. Interested property buyers are now coming from Odisha and Chhattisgarh, apart from various parts of AP itself," he added.

    Concurring, T Ravi Shankar of Shriram Properties said, "There is a danger of land acquisition by the government in the capital area, which is causing a confusion among investors there, but that is not the case in Vizag. There has been no sudden jump or dip and prices, even though overall prices have gone up. A lot of projects are also being announced for Vizag and majority of these will happen between Vizag city and Bhogapuram area. With the development of the airport, other necessary infrastructure is also expected come up in these areas, which is driving the purchase in the areas north of Madhurawada."

    Meanwhile, a real estate marketing agent, K Prabhakar, said, "Buyers, who are looking at the Vizianagaram area, are not only employees from Vizag city, but also from Hyderabad, who want to buy property here as an investment option."

    Affordable realty lures buyers to Vizag-Vizianagaram belt - The Times of India
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    • #72


      Re : Real Estate Trends in Vishakhapatnam

      Builders, land owners enter into joint development contracts

      VISAKHAPATNAM: With the demand for flats growing in the Port City, a large number of builders are entering into a joint development agreement with land owners for construction of apartment complexes.

      According to realty sources, nearly 90 per cent of standalone apartments being constructed in Visakhapatnam city are taken up under the joint development model. The share of the land owner and the builder varies from 40:60 to 60:40 depending on the location of the project as well as the size of the venture.

      At least 390 square yards is required as per municipal rules to construct a four storey residential apartment complex with stilt for parking. In case of five storey buildings, the plot size should be around 600 square yards.

      Confederation of Real Estate Developers' Association of India (CREDAI) Vizag zone chairman K Ramakrishna Rao told TOI that about 90 per cent of apartment complexes in Visakhapatnam were being constructed through the joint development agreement model. "Land owners and builders enter into an agreement under this model. Once the building is constructed, they will share the flats between themselves. This is beneficial to both parties."

      Realty advisor M Nagendra said, "The land owner needs to enquire about the builder and ensure that he selects the builder with the best profile. Usually, flats are shared between the builder and the landowner depending on the value of the land."

      Another builder V Ramana said the share of the land owner is higher in core areas of the city where land prices are high. The builder gets more number of flats if the land is located in the city outskirts. "Some builders are willing to construct apartment complexes in Kirlampudi layout and Pandurangapuram for only 25 to 30 per cent share," he said adding that the situation is however different in areas like Anandapuram.

      Builders, land owners enter into joint development contracts - The Times of India
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      • #73


        Re : Real Estate Trends in Vishakhapatnam

        Realtors, auto dealers bullish on festive sales

        VISAKHAPATNAM: The realty and automotive sectors are bullish on sales during the upcoming Dasara and Diwali festivals thanks to rate cut announced by the Reserve Bank of India (RBI).

        According to realtors and automotive sector representatives, sales in both the sectors could increase by at least 10-15% during the two festivals as compared to the previous year.

        Confederation of Real Estate Developers' Association of India (Credai) Vizag zone chairman K Ramakrishna Rao, said, "The announcement on reduction of lending rates couldn't have come at a better time for the construction sector. Lot of people usually wait to purchase property during the Dasara and Diwali period due to auspicious dates and it will certainly drive sales forward in the next couple of months."

        "After a long time, we have seen such a big rate cut and expect at least 10% increase in sales as a fallout in the next couple of months."

        Meanwhile, realtor Narayana Rao said, "Majority of the salaried employees depend on loans for purchasing property. It will be a big boon for them as they can now expect loans at better rates. Many of those who were postponing their investments can now think of purchasing property as the land values are also appreciating."

        "Last year cyclone Hudhud marred a lot of plans and before that there was a lot of uncertainty in the region due to bifurcation, because of which investments had remained stagnant. But, now we expect better sales as compared to the last three years in the next two months," he added.

        Toyota Leela Krishna general manager (operations) Ajay Kumar said, "A lot will depend on how much of the benefit banks pass on to their customers. Home loan and auto loan are the two main things customers look for in the city because a huge chunk of the population is salaried class. The drop in lending rates will definitely improve sales."

        The sales manager of another auto dealer pointed out that while Telugus prefer to purchase vehicles during Dasara, north Indians prefer to do so during Diwali. "These last three months of the year are crucial for us to rev up our sales," he added.

        Realtors, auto dealers bullish on festive sales - The Times of India
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        • #74


          Re : Real Estate Trends in Vishakhapatnam

          Land survey sparks tension in Bhogapuram

          VISAKHAPATNAM: Tension prevailed at Tudem and its neighbouring villages, where villagers are slated to be displaced by the proposed greenfield international airport in Bhogapuram mandal of Vizianagaram, on Friday when representatives of RITES, the state government's consultant for the airport project, placed survey stones to mark government land amid heavy police bandobast.

          However, suspecting strong opposition from the public, hundreds of police personnel were deployed at Tudem and its neighboring villages ahead of the survey. The cops even conducted vehicle checks and arrested a dozen villagers from Ravada village when they tried to obstruct RITES representatives while they were returning from Tudem village after placing survey stones. On learning about the arrest, around 300 villagers reached the Bhogapuram police station and demanded release of the arrested farmers.

          Hundreds of cops led by three deputy superintendents of police and seven circle inspectors had landed in Tudem ahead of the visit by RITES representatives, indicating the state government's firm decision to go ahead with the land acquisition, a farmer from Ravada village alleged.

          Incidentally, YSRCP state general secretary and Bobbili MLA Sujay Krishna Ranga Rao along with Vizianagaram district YSRCP president Kolagatla Veerabhadra Swamy and central executive council member and former MLA Penumatsa Samba Siva Raju had visited the affected villages on Thursday to take stock of the situation.

          Ranga Rao said that party supremo YS Jaganmohan Reddy would visit the displaced villages on October 5 and extend his support to the displaced people.

          The MLA said his party would fight till the state government rolled back its decision to go ahead with the airport construction.

          Following the opposition of farmers and villagers to acquisition of their land, the state government decided to acquire around 5,200 acre in Bhogapuram mandal for construction of the international airport and started the acquisition of government land, as part of which it kicked off the process of identifying government land by placing survey stones.

          Land survey sparks tension in Bhogapuram - The Times of India
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          • #75


            Re : Real Estate Trends in Vishakhapatnam

            Octogenarian held for land fraud in Visakhapatnam

            VISAKHAPATNAM: The PM Palem police on Monday arrested an 80-year-old retired central government employee, Dabbiru Gowri Shankara Rao, for alleged land fraud.

            Sources said the Central Excise and Other Central Government Employees' Cooperative House Building Society was established in 1974 and acquired four layouts for 828 members. The accused was the society's secretary for 20 years. He allegedly misused his official position and transferred six plots in the names of his family members. He later encroached upon a storm water channel, created two other plots and sold them.

            After his retirement, other office-bearers of the society unearthed the fraud and started an inquiry against him. Based on the inquiry report, a complaint was lodged with the PM Palem police by divisional cooperative officer, Pilli Durga Prasad.

            During the investigation, the police found that Gowri Shankara Rao had committed fraud, misused society funds and sold eight plots in violation of the society bye-laws.

            Octogenarian held for land fraud in Visakhapatnam - The Times of India
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            • #76


              Re : Real Estate Trends in Vishakhapatnam

              KRM colony drowning in civic apathy

              VISAKHAPATNAM: Floodgates are a usual sight at barrages such as the Dowleswaram barrage over river Godavari in Rajahmundry of East Godavari or the Gotta barrage over river Vamsadhara in Srikakulam district. But the presence of floodgates in the Korada Ram Murthy Naidu Colony, popularly known as KRM Colony, under ward number 10 of the Greater Visakhapatnam Municipal Corporation (GVMC) are sure to raise eyebrows.

              KRM Colony is situated in a low-lying area and most of the residents erect flood gates in front of their houses to prevent rainwater from flowing into their homes when the streets get flooded during the rainy season.

              Elaborating on the civic problem, Sri Siva Sai Nagar Residents' Welfare Association (SSNRWA) general secretary GSN Raju said even a light drizzle is enough to turn the streets into little rivers. "The main reason for this problem is the lack of sidewalls on the storm water drain that passes through the colony. There is a solution to every problem, but unfortunately our civic authorities are not bothered about providing a solution. Sometimes, even parked vehicles flow away along with the rainwater," he said.

              Explaining about the floodgates in front of his house, AL Rao, a retired assistant commercial officer, said that nearly 3-4 feet of water flows on the street in front of his house when it rains. "I designed the floodgate specially with a broad iron sheet in addition to the regular gate. Whenever it rains, I close the entrance with the floodgate to prevent entry of rainwater. All the residents have to maintain two gates in front of their residence, including a flood gate. I am fed up of this situation and am planning to sell my house, but nobody is interested in buying it after they learn about the flooding problem."

              SSNRWA president VSN Choudary said, "It is difficult to move on the road during the rainy season. We have appealed to the authorities concerned, including GVMC, to provide an alternative road, but there has been no response from them. The drainage water overflows onto the street and causes a flood-like situation during monsoons. The flooding can be controlled to some extent if sidewalls are erected."

              Hindustan Shipyard employee TVS Naidu said that apart from flooding, the colony also suffers from various other civic issues, including dog menace, defunct streetlighting, absence of a proper public park and poor maintenance of drains and roads by GVMC.

              The colony was established around two decades ago and houses nearly 5,000 people, most of whom belong to the middleclass. The colony is located near National Highway-16 and Simhachalam hills.

              SSNRWA member P Sambasiva Rao pointed out that most houses do not have a proper door numbering system. "I request the authorities concerned to conduct a survey of houses and update the door numbers in order to prevent illegal encroachments and movement of anti-socials."

              When contacted, GVMC commissioner Pravin Kumar said he would look into the civic issues of KRM Colony. "I know that flooding is a major problem in the area and will look into it if the colony residents submit a detailed report on their civic problems."

              KRM colony drowning in civic apathy - The Times of India
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              • #77


                Re : Real Estate Trends in Vishakhapatnam

                Vizagites vote for RK Beach development

                VISAKHAPATNAM: The people of Port City wants the development of RK Beach to be included in the 'Smart City' project that is being taken up by the central and state governments in a phased manner.

                The Greater Visakhapatnam Municipal Corporation (GVMC) last week launched voting website -- - where people could vote for their choice of 'Existing Area Improvement (EAI)'. There are three choices -- Rushikonda Beach, Kailasagiri and RK Beach - out of which Vizagites mainly opted for RK Beach. The corporation plans to close the voting on November 22.

                The EAI has to apply to a region of a minimum of 500 acres and is one of the key elements of 'Smart City' development. As per the data gathered till Tuesday, 9,261 people selected RK Beach, 1,991 people chose Rushikonda and only 1,463 people went for Kailasagiri, GVMC officials said. Incidentally, all the three areas extend to about 500 acres each.

                Confirming that RK Beach has been the pick of Vizagites, GVMC superintending engineer (projects) T Moses Kumar, who is also a part of the project, told TOI: "Till date, the RK Beach area has received the most number of votes. Although we have not finalised the last date of voting, plans are afoot to continue it till November 22. We will consider the area with most votes to be included in the project. After completing the project, we are planning to submit the 'Smart City' proposal to the Centre for its 20 Challenge by December 15."

                Moses Kumar also said that developing entire Vizag as 'Smart City' is a separate project that will be a joint venture taken up by India and the USA. However, developing a 500 acre area is a project that is being taken up by the GVMC for which Rs 1,000 crore will be spent over five years at the rate of Rs 200 crore per year.

                It may be mentioned that the GVMC had convened several meetings and programmes regarding the 'Smart City' project in the past three months to discuss launching of the 'Smart City' campaign. They also held meetings with various stakeholders including senior citizens, social activists, students, media persons, politicians and public servants apart from locals. This apart, the corporation had also conducted public opinion polls through emails and social media.

                GVMC commissioner Pravin Kumar said Vizag had already secured a place among the top 100 contenders in the Smart Cities Challenge and was contesting for a spot among the top 20 cities in the second round.

                "Our efforts are to ensure that Vizag makes a place among the top 20 cities for phase one of the project," he added.

                Vizagites vote for RK Beach development - The Times of India
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                • #78


                  Re : Real Estate Trends in Vishakhapatnam

                  'Remove encroachments, clear drains to avoid Chennai-like floods'

                  With continuous heavy downpour wreaking havoc in Chennai in the past couple of weeks and throwing life out of gear, Vizagites feel that the Port City has a lesson to learn from the situation in the Tamil Nadu capital. Clearing up drains and removing encroachments are some of the measures suggested by the people of the Port City. Here's what they have to say:

                  Inefficient planning a danger to city

                  Vizag tops the list of safest coastal cities because it is surrounded by hills that serve as barriers from any type of storms and cyclones. But this belief was shattered when cyclone Hudhud hit the city last year. If continuous rainfall like that in Chennai happens in the city, we will face a lot of problems. Even though the geological features gifted by nature are an advantage to Vizag, human faults and inefficient planning is pushing the city towards danger.

                  Hemakshi Polavarapu, Student

                  Remove encroachments

                  With the central government keen on transforming Vizag into a smart city, we are all looking forward for a better city in all aspects with each of them having its own importance .One of the main civic issue that needs to be looked into first is the city's drainage system. Vizag is nowhere less than a metropolitan city like Chennai. Yet Chennai was submerged only because of its rapid urbanisation giving no space to the drainage system. The Vizag water bodies, mainly the Bay of Bengal, is a plus point for us as it is connected with three major drainage canals of the city. To prevent the city from becoming another Chennai, the administration should take up some measures like imposing fines on encroachments, demolition of illegal constructions, and cleaning up of garbage from major drainage canals.

                  Ganivada Lohit, Student

                  Low-lying areas will be hit

                  If there is a calamity in Vizag similar to that in Chennai, many low-lying areas will be affected. I studied in Gnanapuram near the city railway station and even during normal rainfall, the area gets submerged. As the population has increased over the years and urbanisation has taken place, the situation will be much more severe if the city receives a huge amount of rainfall. In Chennai, the flooded IIT campus was cleared in a few days because of its tree cover. However, other areas were affected because it has become an urban jungle. In Vizag, many of the hills have been encroached upon due to which landslides will be a major problem. We need to have clear drains too if we have to avoid such a situation from repeating here.

                  Karunya Pentapalli, Entrepreneur

                  Clear drains

                  Cleaning of the drainage channels is a major problem in Vizag. We have the sea on one side and hills on the other. If there is a huge rainfall, the blocked drains will affect the residents of the city. A case in point is the HB Colony in Gajuwaka, where even normal rainfall leads to water-logging. We need to have clear drains and the flow of water to Meghadrigedda and Mudasarlova reservoir shouldn't have any obstructions.

                  VVGSD Prasad, PSU employee

                  Improve infrastructure

                  If Vizag is flooded just like Chennai, hundreds of people will definitely die because of the lack of facilities in the city. Vizag lacks a proper drainage system and mechanism to handle such natural disasters. The government should concentrate on improving infrastructure in the city under the disaster management plan. We can't stop natural calamities, but we can do our maximum best to control them by improving the living standards and civic amenities.

                  KV Ram Kumar, Doctor

                  Eye-opener for Vizag

                  To think that Vizag will face a similar disaster itself is a nightmare. Speaking of reality, even we are not entirely ready to avoid the after-effects of such a calamity. The drainage system in Vizag is poor and it gets proven during heavy rains when low lying areas like the Visakhapatnam airport, One Town area, Convent Junction, NMDC Colony, Allipuram, Seethampeta, Kakaninagar, Sheelanagar and Gajuwaka get flooded. As we don't have any rivers flowing in Vizag, the risk of flooding may be less but the problem may arise due to the water stored in the Meghadrigadda, Gambhiram and Mudasarlova reservoirs. The government has already begun laying underground cables for electricity and telecom as a part of the Smart City project. But encroachments and the increasing number of high-rises add up to the problems of improper drainage system. As a whole, I feel the government should take the Chennai disaster as an eye-opener and take the necessary precautions.

                  E Chandrika, Headmistress

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                  'Remove encroachments, clear drains to avoid Chennai-like floods' - The Times of India
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                  • #79


                    Re : Real Estate Trends in Vishakhapatnam

                    Civic amenities elude Gavara Kancharapalem

                    VISAKHAPATNAM: Resentment is gaining ground among the citizens of Gavara Kancharapalem, where access to civic amenities is still a distant dream.

                    Situated between two railway tracks in the industrial belt of the Port City, the people of Gavara Kancharapalem are struggling with poor drainage system, high pollution, lack of transportation facilities and improper roads. Defunct streetlights and dog menace are some of the other problems that plague the residents of the area which was formed in the 1940s.

                    There is no road for emergency services like an ambulance or fire engine that bypasses the railway tracks. As many as 2,000 families reside in the area which falls under 43 ward of the Greater Visakhapatnam Municipal Corporation (GVMC). It is surrounded by Gnanapuram Railway Station, Kancharapalem and Visakhapatnam Port.

                    According to senior residents of Gavara Kancharapalem, the area was originally formed by railway employees.

                    Peela Rama Rao, a Visakhapatnam port employee and vice-president of Gavara Kancharapalem Grama Abhyudhaya Sangham, said the primary problem of the area was lack of connectivity to the core city.

                    "If any accident happens or a fire mishap, it is very difficult to get an ambulance or a fire tender into the area as the roads are blocked by the railway line. Nearly 80 to 85 trains pass through this railway line daily. There is no footbridge as well. People are forced to cross the railway track. On Saturday, a boy was run over by a train in the evening when he was crossing the railway line. Old people, children, women and pregnant women have difficulties to move to other parts of the city from here," Rama Rao said.

                    "We have made several appeals to the MLA, railway officials, collector and GVMC commissioners. We are ready to leave the area if the government provides another suitable location for us to live. But none of the authorities have responded to our pleas so far," said Kalla Thatha Rao, a senior citizen of the area and former executive member of the Sangham.

                    Another resident K Srinivasa Rao said the GVMC should redesign the canal system in the area in a scientific way to reduce the problem of mosquitoes, stench and stagnation of the canal water. "Mosquitoes, pigs and dogs thrive on the unhygienic condition of the roads and canals that run along the main canal passing underneath the railway line," Srinivasa Rao said.

                    Another resident, P Maha Lakshmi, said some residents occupied the areas near the drainage canal and build houses thus interrupting the proper passage of sewerage. "The GVMC should take proper measures to improve the canal system," Lakshmi said.

                    GVMC commissioner Pravin Kumar said that the GVMC is taking efforts for developing Gavara Kancharapalem. "However, I request the residents of the area to come up with their issues to the corporation for resolving them in a phased manner," he said.

                    Civic amenities elude Gavara Kancharapalem - The Times of India
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                    • #80


                      Re : Real Estate Trends in Vishakhapatnam

                      Inspection reveals lapses in Harita housing project

                      Visakhapatnam: The inspection report prepared by the Empanelled Inspection Agency (EIA) appointed by the Vuda Harita Allottees' Association (VHAA) on the Vuda Harita Housing Project revealed that it has several lapses because of which no successful allottee wants to take possession.

                      After having lost confidence in the state government as well as the Visakhapatnam Urban Development Authority (Vuda), VHAA members themselves appointed the EIA to inspect the quality of the houses that the Vuda built in a gated community that was designed by Singapore-based consultant Jurong.

                      The EIA, consisting of two architects and two certified civil engineers, inspected 200 select houses out of the total 710 in just two weeks in December and submitted the report to the VHAA, which subsequently forwarded a copy of it to the Vuda.

                      According to the findings of the inspection, even toilets and bathrooms have not been built in a proper manner. The parking lots have also been built unscientifically. The report stated that it would be difficult to either park or come out of the parking lots. Basic mandatory spacing of minimum 2.5 feet between each parking space was not maintained in the project that was built on an area of nearly 20 acres, the report said.
                      VHAA president GAN Bhukta said, "Water from the bathroom flows into the main hall in some of the houses. The parking spaces are also defectively built. The AP government's emphasis on the Singapore government and their designing and infra companies like Jurong for building our new capital Amaravati seems to be heading towards a disaster." He further added that Vuda vice-chairman T Baburao Naidu expressed dissatisfaction after going through the report and told his staff to correct the issues.

                      VHAA had appointed the EIA in October by paying nearly Rs 5 lakh for which they had collected Rs 500 each from the beneficiaries of 120 LIG houses, Rs 750 from the 490 MIG houses and Rs 1,000 from the 100 HIG houses.

                      Inspection reveals lapses in Harita housing project - Times of India
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