Apartment rentals see 20% surge in Visakhapatnam
Real Estate

Apartment rentals see 20% surge in Visakhapatnam

Even though the pandemic scare has been around for about two years, apartment rentals in the port city have surged by approximately 20%.

Brokers in the city told the media that the apartments in Sagarnagar, Yendada, Madhurawada, and PM Palem are in high demand since the buzz is that development will be focused, between Yendada and Madhurawada, till Anandapuram and Bheemili.

Several new apartment complexes are coming up in Sagarnagar, Yendada, Madhurawada, Kommadi, PM Palem, Bakkannapalem, IT Park area, Visalakshinagar, and other places on the outskirts where people are deciding to either rent or purchase homes.

KR Naidu, a broker, told the media that earlier, people chose beachfront flats or those near the Beach Road with a sea view, but now 50% of customers are asking for apartments in Sagarnagar, Yendada, Midhilapuri Vuda Colony, near IT park, Kommadi, PM Palem and other places on the outskirts.

In Yendada, a double bedroom gated community flat has a rent between Rs 15,000 and Rs 25,000 based on the amenities and distance from the main road. Comparatively, rent for a 2 BHK furnished flat was between Rs 8,000 and Rs 10,000 six years back in Sagarnagar, Yendada and Midhilapuri Vuda Colony.

Image Source

Even though the pandemic scare has been around for about two years, apartment rentals in the port city have surged by approximately 20%. Brokers in the city told the media that the apartments in Sagarnagar, Yendada, Madhurawada, and PM Palem are in high demand since the buzz is that development will be focused, between Yendada and Madhurawada, till Anandapuram and Bheemili. Several new apartment complexes are coming up in Sagarnagar, Yendada, Madhurawada, Kommadi, PM Palem, Bakkannapalem, IT Park area, Visalakshinagar, and other places on the outskirts where people are deciding to either rent or purchase homes. KR Naidu, a broker, told the media that earlier, people chose beachfront flats or those near the Beach Road with a sea view, but now 50% of customers are asking for apartments in Sagarnagar, Yendada, Midhilapuri Vuda Colony, near IT park, Kommadi, PM Palem and other places on the outskirts. In Yendada, a double bedroom gated community flat has a rent between Rs 15,000 and Rs 25,000 based on the amenities and distance from the main road. Comparatively, rent for a 2 BHK furnished flat was between Rs 8,000 and Rs 10,000 six years back in Sagarnagar, Yendada and Midhilapuri Vuda Colony. Image Source

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code