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| Click to view map of the city |
Price propellers
Some projects underway that could influence real estate prices in future.
1. SEZs
Visakhapatnam SEZ, located 24 km from the city, Pharma City at Parwada, Exim Park established by Visakhapatnam Port Trust and a new container terminal for the port will accelerate industrial growth.
2. MRTS
The proposed mass rapid transit system will cover three traffic corridors — Old Post Office to Hanumanthawaka, Asilmetta to Lankalapalem, Convent Junction to Pendurthi — in Phase 1.
3. Road Projects
Major city and suburban roads being widened under the Comprehensive Road Development and Beach Development project.
Land use by 2012
With a number of new road projects and mass rapid transit system, traffic and transportation planning will be high on the development plan for the city. SEZs and IT companies will also push demand for residential townships.
Transportation | 44% |
Residential | 27% |
Industrial | 12% |
Public | 8% |
Commercial | 6% |
Agricultural & water bodies | 2% |
| Percentage share of different heads in total proposed investment in infrastructure by 2012 (Rs 14,987 crore) | |
New residential projects
Purchases for self-occupancy are increasing as new industrial and infrastructure projects become operational. Most new residential projects are campus-style developments.
| Builder | Project | Location | Price (Rs)* |
| Ravitej Const | Nagamalli Nagar | Simhachalam | 10 lakh |
| Pawan Builders | Midway Residency | Gajuwaka | 13 lakh |
| Vardhani Const | Vardhani Residency | Sujata Nagar | 14 lakh |
| Navya Const | Vijay Heights | Marripalem | 15 lakh |
| Krishna Const | VV Krishna | Duvvada | 17 lakh |
| Creative Const | Creative Madhura | Madhurawada | 27 lakh |
| Srinivas Associates | RK Towers | Dabagardens | 35 lakh |
*Average price of a 3-bedroom apartment | |||
Retail space distribution by 2008
Retail dominates the commercial activity in the city. Almost all the major brands have their presence in the market while several leading retailers are vying for prime space.
| Town Main Road | 15% |
| Raja Ram Mohan Rai Road | 12% |
| Dwarka Nagar Road | 12% |
| Dabagarden Road | 10% |
| Sripuram Junction | 10% |
| Hanumanthwaka Road | 10% |
| Jail Road | 8% |
| Diamond Park Road | 8% |
| Others | 15% |
| Total retail space supply by 2008: 4 million sq ft | |
Buying options
| Area | Cheap | Price | Expensive | Price |
| Central | Sagar Nagar | 2800 | Dwarka Nagar | 4200 |
| North | Bheemunipatnam | 1500 | Rushikonda | 2200 |
| West | Lankalapelam | 1200 | Pendurti | 1500 |
| South | Appikonda | 1100 | Munagapaka | 1400 |
Prices of residential properties in Rs/sq ft | ||||
Price change
Average percentage price change in 2006 and 2007 (expected).
| 2006 | 2007 | |
| North | 20% | 15% |
| West | 40% | 25% |
| South | 15% | 15% |
| Central | 30% | 20% |
