Cost of Living in Visakhapatnam
The Ministry of Housing and Urban Affairs of India announced the Municipal Performance Index of 2020. Visakhapatnam with a score of 52.77 stood in the 9th position on the Municipal Performance Index. This rank was among the municipalities that have a population of over a million. The living cost in Vizag is also reasonable and affordable.
The Municipality Performance Index was assessed for the first time in the country. The Index looks into elements like-
Service delivery of the local governance
Practices carried out by the government
Planning and financial systems of the local government
Twenty different sectors like - infrastructure, digital governance, fiscal responsibility, and so on.
The Index gives an idea of how well the municipalities are under a holistic view. Based on the city ranks, the citizens can understand the-
Developmental capability of the city
Administrative policies of the local government
Visakhapatnam coming in as the 9th in this index gives an understanding of the liability quotient of the city. The index has been drafted with the aim to provide transparency to the citizens. The cities considered for the index were also considered for their-
Sustainable practices
Quality of life
Economic ability
In a similar index released by the government, Visakhapatnam has been ranked as the 15th city with ease of living. And true to the index, Visakhapatnam is loved by many. The city is home to a disparate population. As a matter of fact, it continues to be home for people from everywhere.
If you are someone looking forward to shifting to Visakhapatnam, then you have chosen the right blog. In this article, we will be covering the living cost in Vizag. We will explore the rental prices, property costs (estimated prices), recreational bills, and utility bills. The aim is to provide you with a glimpse of the financial expenses that you would cover if you live in Visakhapatnam and answer your big question – “How is the cost of living in Vizag?”
Rental Trends in Visakhapatnam-
To answer the question of how is the cost of living in Vizag, the first aspect to consider would be the rents.
Not all regions of the city of destiny have similar rents and prices. They vary depending on their location and their proximity to major sectors.
For example, if you want to live in the northern region of the city, the rents are comparably more affordable than in the central region.
Let us look further into the rental trends in different parts of the city-
Central Visakhapatnam
The central part of Vizag is mainly filled with commercial and residential projects and properties. The area is also known for its retail and eatery outlets. High commercial activities can be found in areas like Asilmetta, Dabagardens, Dwaraka Nagar, and Siripuram.
Rents in Central Visakhapatnam can be a tad bit higher than in the other parts of the city. This is because of the high activities carried out in these prime localities. Localities in this area include-
Seethammadhara
Maddilapalem
Akkayyapalem
Gnanapuram
Coming to the rental trends, it differs depending on the locality. But as a general estimation, the rents in Central Visakhapatnam can fall anywhere from Rs.10,000 per month to Rs.30,000 per month. The room configuration of the property and its proximity to main roads also play a factor in deciding the rent. This region makes up one of the costly areas in Vizag for families and students.
For example, one of the prime localities in Central Visakhapatnam is Maddilapalem. The locality is home to several residential as well as recreational properties. The rents in this area can be anywhere from Rs.5,000 per month (for 1BHKs) to above Rs.20,000 per month (for >1BHKs).
Another popular locality is Seethammadhara. Seethammadhara has also been seeing major developments and advancements. The locality is more of residential properties (especially high-rise buildings) with commercial projects. The locality is also home to government offices like the Dredge House. The rents here start from Rs.10,000 per month and can go up to Rs.40,000 per month.
It is no surprise if these areas are suggested as the top 5 areas for residents living in Vizag.
Comparably, in areas like Gnanapuram and Kancharapalem rental prices are less. The rents can range anywhere from Rs.5,000 to Rs.15,000 per month.
North Visakhapatnam
The northern localities in Visakhapatnam are the ones experiencing rapid growth and development. This part of the city also harbors the IT hub of Vizag along with residential properties.
Few well-known localities in this area are-
Madhurawada
Rushikonda
Yendada
Anandapuram
Gambhiram
The localities in the Northern part of the city are much more affordable than the central localities. This is because they are a bit far from the “city” area of Vizag. Nonetheless, they have all the facilities and amenities required in and around.
The rental trends in an area like Madhurawada or Kommadi fall in a reasonable range. The rents in these areas fall mostly between the range of Rs.5,000 to Rs.20,000 per month. Again, the configuration and exact location of the property plays a role in deciding its rent. Living here does reduce the living cost in Vizag.
In localities like Yendada with scope for high rise properties, the rent can fall between Rs.10,000 and Rs.20,000 per month.
South Visakhapatnam
The southern localities of Visakhapatnam are also mainly residential and commercial properties. However, it is also known for its industrial neighborhoods.
Few well-known localities in South Visakhapatnam are-
Gajuwaka
Ukkunagaram (Steel Plant)
Sheela Nagar
Pedagantyada
Duvvada
Gangavaram
Scindia
The southern part of the city is where the Visakhapatnam International Airport is located. It is also home to Vizag’s steel plant - Rashtriya Ispat Nigam. It is quite far from the major commercial activities in Central Vizag. But that doesn't mean that the southern region has no commercial or recreational outlets.
There are recreational and commercial centers like -
Globex Cinema
Mohini Cinemas
CMR Shopping Mall
South India Shopping Mall
Barbecue Nation
Mandi Croods
The rents in areas like Gajuwaka and Sheela Nagar fall into the range of Rs.5,000 to Rs.25,000 per month.
The rents in areas like Duvvada fall into the range of Rs.5,000 to Rs.15,000 per month.
East Visakhapatnam
The eastern parts of the city of destiny are perhaps the busiest areas. The localities are always buzzing with activity. There are both commercial and residential properties present in the eastern localities.
Few well-known localities in East Visakhapatnam are-
Jagadamba Centre
Poorna Market
Pandurangapuram
MVP Colony
The rental trend in these eastern localities is somewhat similar to Central Visakhapatnam. The rents are high as these localities are closer to and comprise the “city” part of Vizag. There are commercial activities carried out throughout the day. There are food outlets, theatres, and shopping malls in proximity to these localities.
In a locality like Jagadamba, the rents can start from Rs.5,000 to Rs.40,000 per month. In a locality like MVP Colony and Pandurangapuram, the rents begin from Rs.15,000 and go up to Rs.40,000 per month.
West Visakhapatnam
The western part of the city mainly comprises residential properties. Few well-known places in this region are-
Pendurthi
Gopalapatnam
NAD
Muralinagar
Simhachalam
The rents in localities like Pendurthi and NAD are estimated to begin from Rs.5,000 and go up to Rs.15,000 per month.
Rents in Gopalapatnam and Simhachalam range between Rs.5,000 to Rs. 25,000 per month.
In areas like Muralinagar, the rents can begin from Rs.10,000 and can go up to Rs.45,000 per month.
North-West Visakhapatnam
The north-west is where the big names, like the ones below, are located -
Apollo Health City
Pinnacle Hospital
Health City-APIIC (Andhra Pradesh Industrial Infrastructure Corporation Ltd.)
Few well-known areas in this region of the city are-
Chinna Gadhili
Arilova
Hanumanthvaka
Adarsh Nagar
The rental range in areas like Arilova starts from Rs.5,000 and can go up to Rs.15,000 per month. The range increases for areas like Adarsh Nagar. Rents in Adarsh Nagar range between Rs.5,000 to Rs.40,000 per month.
Suburbs of Visakhapatnam
These localities are the up-and-coming residential areas lying a little out of the city. The rental trends in these areas are more on the affordable side.
Northern-
Few known places in this region are-
Bheemunipatnam
Tagarapuvalasa
Gudilova
These localities can charge anywhere from Rs.5,000 to Rs,15,000 per month for rent.
Southern-
Few known places in this region are-
Anakapalle
Parawada
Atchutapuram
These localities can have rents in the range of Rs.5,000 to Rs.15,000 per month.
Western-
The following are the localities that fall in this region-
Sabbavaram
Devipuram
Kothavalasa
The rents in these localities begin from Rs.5,000. These residential properties are more affordable for renting purposes than the rest of the city.
Property Price Trends in Visakhapatnam-
The property prices, just like the rental trends, in Vizag differ from one place to another. To give you an estimate, a square foot of land can cost you anywhere between Rs.3,000 – Rs.8,000. A benefit of owning a house in Vizag is that you have several options to select from. There are houses with configurations from 2BHK flats to 5BHK bungalows and duplexes.
There are several top real estate companies in Vizag that can help you in finding your dream home. Property consultancies also guide you in each step of acquisition.
When you own a property, the living cost in Vizag comes down with the removal of rental expenses.
Is Vizag an expensive city? It depends. The living cost in Vizag can vary from person to person and family to family. It also depends on the budgeting and spending habits of the individual(s). For a person or family who stays in an area like Kommadi, their expenses are likely to be less than those living in Seethammadhara.
This is because the north side of the city is on the road to development. Ventures, high-rise buildings, gated communities and commercial outlets are slowly making their way into this region. Pretty soon, these rapidly growing localities are going to bloom to their potential.
According to Numbeo.com, a resident of Vizag spends most of his salary on food and groceries. This can be owed to the variety of restaurants and resto-cafes lining up in almost every street of the city. From continental to coastal, Vizag has a lot of finger-licking and lip-smacking cuisines to serve. Sounds like a perfect place for a foodie, right?
Visakhapatnam also houses several theatres, shopping malls and fancy brand stores. Just like these commercial outlets, Vizag also has a huge share of educational institutions for students. From pre-schools to colleges, there are both private and government institutions present. The fees vary depending on the class that the student is in.
All in all, Visakhapatnam has everything that a person can ask for. You name it, our city has it.
To think Visakhapatnam is only famous for residential purposes would be an error in thought. Visakhapatnam also opens windows for development and advancement. It is a treat for all those looking for investment opportunities. There are top real estate companies in Vizag that cater to all sorts of property needs.
If you want to expand your investment portfolio, Visakhapatnam has the potential to be your next destination.
You might ask yourself –“Vizag vs. Hyderabad which one is better?” When compared with cities like Hyderabad and Bangalore, Visakhapatnam is more affordable economically. As mentioned earlier, the living cost in Vizag is reasonable and affordable. The social infrastructure of the city has plenty to offer to the residents and tourists. The wide stretch of the blue ocean adds beauty and charm to the city. The greenery and hillocks everywhere are the cherries on top.
It’s not just how the city looks but also what the city can proffer, both economically and socially. Here are the summed up reasons why Visakhapatnam is becoming a favorite place to call home for many-
Affordability
Good real estate
Employment Hub
Presence of several renowned educational institutions
Good infrastructure
Smart City
Connectivity with nature
The city of destiny has changed the destiny of many. It gave them a chance to enhance their lives. It gave them opportunities to spread their wings and fly. But most importantly, it gave them a place to call home. A home that is always welcoming and accepting.
We hope we could answer your question of how is the cost of Living in Vizag through this article.
To stay in the loop with the latest buzz around Vizag, don’t forget to stay in the loop with our blog!
Disclaimer: The views and numbers expressed in this article are merely to provide you an estimation of the living cost in Vizag. The rates and prices may change according to the economy.
.jpeg)