Top 10 Areas to buy a home in Visakhapatnam
Why make Visakhapatnam your home?
With employment reasons topping the list, there are a plethora of reasons for home buyers for selecting Visakhapatnam as the location for their dream home.
With its scenic beauty, Vizag as dearly called, captures the hearts of the city-dwellers and makes them want to settle down in the pristine and serene setting of the City of Destiny. Located between the Eastern Ghats and Bay of Bengal, Visakhapatnam is the perfect location for a house to become HOME.
The perfect wet and dry tropical climate provides the best environment for buying a home. Apart from the above reasons, the City of Destiny offers a platter of motives to buy a home here.
These reasons can be attributed to the following:
- Visakhapatnam is the largest city in the state of Andhra Pradesh and is the 9th richest in the state.
- Port-led industrialization strategy of the Government of India is perfectly in alignment with the existence of the Vizag and Gangavaram ports.
- The booming pharmaceutical industries offer a boost to the private sector development and subsequent residential requirements.
- The APIIC and VSEZ ever-expanding their scope, many industrial parks have propped up around the city limits.
- The ITES and IT sector growing at a rapid pace with 350+ firms, generate great revenue and prove to be a boon to the economy.
- The Vizag-Chennai Industrial Corridor aligned with the Golden Quadrilateral scheme of GOI, with its 800km stretch is critical for realizing the full economic potential of the city.
- The PCPIR is all set to generate close to 1.2 million jobs in the coming 5 years which will see an upsurge of skilled manpower to work in the associated industries
- The already existing Naval Base, their subsidiary research facilities like NSTL, DRDO, the Vizag Steel Plant and the NTPC plant are all set to establish Vizag as a Global FinTech Capital for the state of Andhra Pradesh.
Where in Visakhapatnam?
The Visakhapatnam district has a major advantage of the National Highway passing through the heart of the city. With the Industrial development and the IT- ITES Sector on the path to achieving pinnacles around the city, the need for establishing new residential realty has become the need of the hour.
There are regions in and around the city that catch the attention of realtors for developing new projects. If we take a detour of the City of Visakhapatnam, the following are the areas suitable for buying a home.
Madhurawada
The establishment of IT SEZ in Visakhapatnam with a huge span of 360 acres has transformed the city with more than 350 firms and nearly 60,000 employees. These firms are majorly located along the coastal belt from Bheemunipatnam till Rushikonda. Madhurawada with its vast unexplored landscapes provides the right environment to buy a home. The upcoming hospitals, educational institutions which include schools, engineering and medical colleges, etc., movie theatres and shopping malls, along with road connectivity bordering the National Highway 16 makes it a hot cake for real estate developers in Visakhapatnam.
Yendada
With educational institutions like Gayatri Vidya Parishad, GITAM University and proximity to IT SEZ, Yendada has proved to be the ideal location for real estate developers to venture new projects and make the dreams of many home buyers come true. The major reason for settlers near Yendada is that it is yet unexplored and is home to lush greenery and less pollution. It also lies in close proximity to the Rushikonda beach area, the hot bed of tourism in Visakhapatnam.
Arilova
Entering into city limits, the Arilova-Simhachalam road is the first stop for home buyers. This is due to the factors that it borders the city, yet is in close proximity to the IT-SEZ area. Arilova area has become the hub for medical services with all the major hospital chains developing state-of-the-art infrastructure for timely medical services to reach the people. Along with this, the Mudasarlova reservoir and the surrounding urban park spanning nearly 20 acres offers a peaceful and perfect place for home-to-be.
MVP Colony
MVP Colony is an urban neighborhood in Visakhapatnam with a population of approx. 1 Lakh. It is one of the largest townships in Asia. The surrounding areas like Venkojipalem and Maddilapalem are also in focus. These areas are well connected to the city as well as the outskirts. Road transportation is the major mode of connectivity. This area is equipped with schools, colleges, sports grounds, raithu bazar, and hospitals, too. The real estate market here majorly includes stand-alone apartments, individual houses, villas and duplex in Visakhapatnam.
Siripuram
This area is literally the “Heart of the City of Destiny”. Siripuram houses government offices, government quarters for employees, and most importantly surrounds the premises of Andhra University. With the University catering to the needs of the students and its employees, there is dire need for residential accommodations for the huge no. of govt. employees. The HPCL Waltair Park is a home to large no. of HPCL employees but there is still dearth of residential complexes in this area. The upcoming real estate projects in Visakhapatnam includes the major portion of development projects in the Siripuram area.
Muralinagar:
If we further venture in to the city of Visakhapatnam, it is understood that the city becomes a hustle of people with densely populated areas cropping up here and there. One such region being Murali Nagar, it still holds potential to expand further. Within a radius of 10 km from Murali Nagar lie the industrial area of VSEZ, educational institutions, public transportation systems, and hospitals. This makes Murali Nagar the most sought after residential area in Visakhapatnam.
Gajuwaka
The Gajuwaka area is heavily populated and densely situated industries along the lines of VSEZ and also DRDO, NSTL, Vizag Steel Plant, Visakhapatnam Port Trust. All these public and private industries lie within a 5 km radius of Gajuwaka. With the industries expanding on one side, the need for developing residential areas has become necessary. The demand for low budget flats in Gajuwaka has seen a surge due to the small and medium industries and the skilled manpower employed in this area.
Atchutapuram
The APIIC has recently turned to Atchutapuram to establish a number of industries. Of all the established ones, the most popular is The Brandix India Apparel City. It holds the record for employing the highest number of women, nearly 15000 of them. It is a 1000-acre premises housing a huge number of textile and apparel industries. Apart from Brandix, there is a pharmacy SEZ nearby and also the DRDO undertakes INS projects as part of its research and development schedule. This has brought the need for residential premises to be built in the locality to facilitate the employers and employees to provide for their accommodation.
Duvvada
Duvvada, which was once a small peripheral town on the outskirts of Visakhapatnam now has become the hub of educational institutions and industries. It has a fully developed railway station which serves as an efficient means of transportation to and from the city. The real estate scenario was at first bleak but is now booming. The demand for open plots in Duvvada has gradually reached its pinnacle and now the focus has shifted to 2 BHK apartments and Villas in the locality.
Conclusion:
Apart from the areas stated above, investments in PM Palem, Kommadi, Sagar Nagar, Auto Nagar, Kurmannapalem, Kothavalasa, and Pendurthi have also seen a drastic rise in the recent past. With the announcement of Visakhapatnam as the future executive capital, its potential for exponential growth, the centrally-located International airport and the upcoming Greenfield airports have proved to be the major factors for investment boom in and around Visakhapatnam.
The surrounding districts of Vizianagaram and Srikakulam also hold huge potential for growth and development. This has led to the increased demand for Open plots, 2 BHK flats, and Villas in Visakhapatnam. This encouraged the real estate companies in Visakhapatnam to venture into new projects. The future of the City of Destiny as a port city and industrial center seems bright and shining in terms of realtors and real estate market in Visakhapatnam.
Here the List of Projects in Visakhapatnam Click Here
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