Real estate in India has become one of the most profitable businesses in Visakhapatnam, and the sheer growth of land rates is a testimonial to this fact. Though Vizag real estate traditionally was a place where the land acquisition was a not so difficult affair, it was only during the announcement of Vizag as the executive capital of Andhra Pradesh plots for sale in Vizag has propelled at a profound pace.
Considering the Vizag real estate boom, it is speculated that around 20,000-acre farmland is to convert to layouts. As a result, the number of people interested to make big-time investments in lands for sale in Vizag has considerably grown. However, investing in any real estate market must be done cautiously to get the returns you expect in lesser time. One of the significant aspects that decide the earning capacity of real estate investment is the location of the land.
Here, we came with some of the best places to buy plots for sale in Vizag:
Vizag, the executive capital city of Andhra Pradesh is swiftly progressing in real estate towards Vizianagaram and Srikakulam route. Initially, ever since the state government has announced its plans to build the Greenfield Vizag International Airport in Bhogapuram, properties prices have seen a steep rise in and around Bhogapuram.
Located at 45km away from the city in the district of Vizianagaram, the area has become the paradise land for Vizag real estate investors. According to the reports, the lands for sale in Bhogapuram have spiked from Rs. 1000-1500 / S.ft. Many gated community residential projects have been launched close to NH 16, and the prices are even jacked up to Rs. 2000 per S.ft.
With a price range of Rs. 2,750 - 5,250 / S.ft, Tagarapuvalasa is a small but rapidly developing suburb in Visakhapatnam. It is located along the Kolkata-Chennai National Highway 16 and is at a considerable distance from the upcoming Bhogapuram airport.
With the presence of good educational institutions, commercial presence in and around Tagarapuvalasa, the area has upgraded a lot in recent years. It has excellent connectivity to Madhurwada, Bhogapuram, Bheemunipatnam. Adding to the value, a six-lane road is being constructed connecting this area for easy connectivity to Vizag. Homebuyers and land investors can find several VUDA approved plots and land, including apartments for investment at affordable rates.
For Visakhapatnam, Pendurthi is one of the best neighboring places with ample land availability. Lately, the area is enjoying huge attention with the growing Vizag real estate. There are a lot of good transportation facilities from Vizag to Pendurthi and vice versa. Land prices in Pendurthi range from Rs. 2,443 - 4,333 / S.ft.
A lot of commercial and industrial activities are happening around the region. At present, people interested to invest in plots for sale in Vizag can easily buy Vuda approved plots in this area for profitable ROIs. Due to Vuda's construction activities, Pendurthi fulfills almost all specifications of a well-developed locality.
In Visakhapatnam, Boyapalem is a peaceful calm suburb. It is connected through NH 5 and is at a close distance to Visakhapatnam Railway Junction & the airport. The emergence of good educational institutions has also enhanced the area & market value of this community.
Buyers and developers thinking of investing in Vizag real estate can find plots with Rs. 2,470 - 3,449 / S.ft. It is a nearby place to Anakapalle and offers all basic amenities and social infrastructure facilities like colleges, temples, schools, hospitals, etc. can find some VUDA licensed plots and land at affordable prices that have a few apartments for investment.
Madhurawada has become one of Visakhapatnam's most desirable land destinations. A big suburban town on the NH5 line of Vizag-Vizianagaram. The reason for its rapid growth is its proximity in and around the area to IT and industrial companies. It is considering a rapidly expanding destination for businesses, sports venues, and colleges.
Madhurawada currently supports the construction of large residential projects. Multi-story apartments mainly to meet IT / IIT staff residential demand in the vicinity. Compared to other areas in development with higher rates, property prices in this area vary from Rs 2,211 - 6,000 / S.ft, which are relatively affordable.
With its excellent neighborhoods to the beautiful beach, Kapuluppada, located in Bheemunipatnam district of Visakhapatnam, is a rapidly emerging area with good availability of land. The area is situated around 20+ km from the Vizag railway station and is managed by GVMC.
A few plots and apartments for sale can be found here at an affordable rate of Rs 900 – Rs 1500 / S.ft and can be advantageous for future returns in the long run. This area fulfills all basic infrastructural needs like CC roads, drinking water, sewage facilities for a comfortable living of families.
Real estate prices have increased by leaps and bounds in and around Sabbavaram as the mandal headquarters is assumed to house at least three universities. Located about 32 kms from the RTC Complex, universities including the Tribal University, Damodaram Sanjivayya Law University, Petroleum University, and Indian Maritime University, are likely to be the mainstay of the mandal, which till now was mostly reliant on agriculture.
At present, plots for sale in Sabbavaram are selling at a low Rs 600 per S.ft and goes up to Rs. 9000 per S.ft. The reason why realtors and homebuyers are very much interested in investing in this area is the desire that with educational institutes and a lot of development happens and can give them a decent return on their investments.
The real estate rates concerning the plots for sale in Vizag keeps changing but surely in a positive direction. Irrespective of you being an investor, builder, or buyer who wants maximized profits, you always need to stay updated and act as per the market movement before investing in the ever-changing Visakhapatnam real estate market.
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