The port city, Visakhapatnam is undergoing a rapid change in the real estate with bifurcation of Andhra Pradesh after the Telangana split. Visakhapatnam, well known as Vizag, holds a beautiful coast line with a lone natural harbor on the Eastern India and boasts natural valleys, hills, and outstanding golden coastline. The city also hosts as one of the great corporate destination in the Eastern India including sectors like tourism, industrial and IT sectors. The city is now on the verge of becoming a new capital of the coastal Andhra Pradesh as the Telangana split has taken place. The infrastructure development in the vizag has seen a sudden boom in infrastructure development as the city is competing in vie of being the new capital city of the coastal Andhra Pradesh.After recession, most of the corporate giants and business leaders shifted their focus towards Visakhapatnam as the property prices in Hyderabad were touching skies and scarcity of land parcel was increasing rapidly. The developer and builder have started developing high-rises and township in Vizag and now Vizag is carving its skyline through numerous multi-storey real estates. Vizag has easy availability of skilled labor, and infrastructure along with low cost real estate market making it an attractive and affordable market. Builders in VisakhapatnamReal estate development in the city has undergone through massive and unpredicted growth in the past few years. The increasing demand from both residential and commercial end has attracted numerous builders and developers in the city. The development of residential segment has given rise to the development of the retail sector in the city. Builders in Visakhapatnam include prominent names like Saiteja Builders, Navya Constructions, and Vasundhara Projects, etc.Projects in VisakhapatnamVizag city has the great combination of coastal line at one end and skyline of buildings on the other end. The skyline of vizag comprises the vast range of real estate from commercial complexes to residential buildings, high rises to villas, affordable houses to luxurious bungalows. The city boasts large scale of projects from various builders and developers. Projects in visakhapatnam which are in demand include large scale townships and luxurious real estate developments.Properties in VisakhapatnamCity has gained its importance in the past few years with affordable prices, picturesque locality, soothing climate and large availability of land parcels. Properties close to the beaches and properties situated on the outskirts of the city are pulling large volumes. Areas adjacent to the coast line are the most sought after locations in the city. Despite the price rise in the city, demand of the properties has not been deflected at all and after the bifurcation, demands are on high in the city with the news of the city being the new capital of coastal Andhra Pradesh. Property rates in VisakhapatnamThe city being the new hotspot for the industries, IT companies, ITeS, SEZ and BPO, the demand of the commercial as well as residential properties have increased from the last two to three years. The increasing demand in the real estate market has increased property rates in the city which is now starting to compare with prominent cities like Hyderabad. Although the vizag market is comparatively cheaper than the Hyderabad market, property rates in Visakhapatnam have increased by about 10-15 per cent in the past three years.Property taxes in VisakhapatnamProperty tax in Visakhapatnam is assessed and collected by the Greater Visakhapatnam Municipal Corporation (GVMC) on the property residing in the jurisdiction of the GVMC. Collected property taxes are used in the development of the infrastructure in the city areas. The GMVC has opened a facility through which property owners can pay their property taxes online through their official website.Investment tipsThe bifurcation of Andhra Pradesh holds the great future for the real estate market of the Visakhapatnam. The city is witnessing an unpredicted growth in the real estate segment which includes both commercial and residential real estate. Even the retail sector of the city is improving along with the residential development of the city. The Vizag holds higher return capability and great investment benefits in the real estate sector. The residential real estate of the city holds the higher investment future.Upcoming areasAlthough the coastal areas of the city are the most sought after locations for both residential and commercial real estate, the outskirt areas like Muralinagar, PM Palem, Yendada, Sheela Nagar, Gajuwaka and Visalakshinagar have the reasonable property rates and are expected to grow very rapidly to become great property location in the city. Areas like Dwarka Nagar, Rishikonda and Madhurawada have turned out to be the next big residential locations in the city.займ на карту без отказов круглосуточновзять кредит онлайн