Vizag - Residential Real Estate Market

Our Realty Reporter was recently in Vizag, Andhra Pradesh [Visakhapatnam] and did a survey of the city's residential real estate market. Here is his report, [Property Prices per SFT. Rental is for a 2BHK Good Apartment, Semi-Furnished upto 1200 SFT in size]

• Beach Road: Rs 2300- Rs 2800 / sft. Rental is Rs 15000 to Rs 18000
• Sripuram Junction: Rs2000 - Rs 2500. Rental is Rs 10000 to 15000
• Lawson Bay: Rs2000 - Rs2300. Rental is Rs 10000 to Rs12000
• M.V.P Colony: Rs2100 to Rs 2700. Rentals is Rs 8000 to Rs 15000
• Dwarka Nagar: Rs1500 -Rs2100. Rentals are Rs 8000 to Rs12000
• Akkyapalem: Rs1200-Rs15000. Rentals are Rs5000 to Rs10,000

The retail action has picked up in Vizag and is better than expected. Waltier up-lands and Dwarkanagar command Rs 80-Rs90/SFT/Month in rents for a Ground Floor store. Srirampur Junction and Dhaba Gardens - Rs 60-70/sft/month in rent. Jagdamba and Station Road command Rs 50/sft/month in rent for retail showrooms.