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Flats in Visakhapatnam Muralinagar are popular due to their strategic location and affordability. Muralinagar is a residential pocket about 14km north of the heart of Vizag and lies right next to NH–5. It is also in proximity to Vizag airport (6km), Marripalem railway station (2km), Araku–Visakhapatnam Road a.k.a. the BRTS Expressway (5km). Murali Nagar is turning heads for its affordable apartment options amidst green surroundings, the infrastructure development that has happened in the area and the multimodal connectivity it provides.
Burgeoning real estate prices in the city has driven the population to the outskirts, where the price factor combined with the
Flats in Visakhapatnam Muralinagar
development of the region are reasons enough for them to look for spacious yet affordable homes. Property prices for flats in Visakhapatnam Muralinagar rose from INR 2,783 in the third quarter of 2012 to INR 3,000/sq. feet in the third quarter of 2013. Currently, the prices are around INR 3,200/sq. feet and are expected to rise.
85% of the apartments being sold in Muralinagar currently are either 2BHK or 3BHK apartments. While most of them are new flats, there are yet others which are resale flats, with resale flats being priced slightly lesser than the new ones. A new 2BHK flat in Muralinagar with an average area of 1,000 sq. feet are priced around INR 25–32 lakhs. A 3BHK new flat in Muralinagar with areas ranging from 1,300 sq. feet to 1,600 sq. feet are priced anywhere between INR 35–60 lakhs. 3BHKs usually are the premium projects, and hence are not priced in comparison to 2BHKs.
What’s best about the flats in Visakhapatnam Muralinagar is that they are all built in neat, planned VUDA–approved layouts. Moreover, all aspects of social infrastructure and other facilities such as hospitals, schools, grocery stores, banks and ATMS, restaurants, shopping malls and entertainment centres, all lie in the vicinity, making the area more than self–sufficient.
For those looking for apartments, Muralinagar might be a good choice. However, a tiny drawback is that the area might have achieved saturation in terms of space and hence, the potential for future development for new projects might not be a lot. Investors and home buyers looking to buy homes could have a look at another fast–growing and upcoming area just 15km north–east of Muralinagar, which is Yendada.
Yendada is fast becoming a real estate hotspot to reckon with in Vizag. Not only are the property prices in Yendada the same as Muralinagar, but the area is also right next to the beach, in proximity to NH–5 and Beach Road, and also the IT SEZ at Rishikonda. Most of the apartments in the area are east–facing, offer a host of amenities to the buyers and are available for all kinds of budgets. For instance, one must check out Shriram Panorama Hills in Yendada. It has four towers filled with options for not only beautiful apartments, but also villaments (combining the living ideas of villas and apartments) for home buyers.
Find a dream beach house at Panorama Hills
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Vizag beach road flats sale is the newest trend to hit the real estate market of the charming coastal city. As more and more people flock to the City of Destiny, the sale of beach road flats as first homes as well as secondary holiday homes has gone up in the last few years. Today, beach road is not only a favorite landmark but one of the busiest growing areas of Vizag.
Popularity of beach road flats
Vizag beach road flats sale has gained traction due to a combination of many developments. Firstly, VUDA (Vizag Urban
Vizag beach road flats sale
Development Authority) has begun a project of widening the beach road and converting it into a 4–lane corridor. The 30 km road now provides state-of-the-art private and public transport facilities and is studded with parks, museums, entertainment centres and beautiful sea-facing homes. Secondly, the state government and GVMC are taking proper steps to ensure that the coastal waters do not surge and destroy the road, which is an important to be considered in the long run. Lastly, the championing of the reclassification of the CRZ norms is expected to up the construction activity on beach road in the years to come, making the area a prime residential locality of the future.
Beach road flats
Vizag beach road flats sale has picked up with the development of properties in the area. Of all the properties on beach road, almost 58% are 1/2/3 BHK apartments. Apartments on beach road are the same as Madhurawada, coming only with an upped price tag due to their location. A 2BHK apartment on beach road with an area of 1,300 sq. Feet to 1,400 sq. Feet approximately cost around INR 40 lakhs to INR 70 lakhs, depending on the project and the builder. Similarly, a 3BHK apartment with an average area of 1,500 sq. Feet to more than 2,200 sq. Feet cost anywhere between INR 60 lakhs to INR 2 crores or maybe even more. All of them are east–facing, giving the inhabitants a gorgeous view of the Bay of Bengal, and have living rooms, dining halls, balconies, and some even have separate puja rooms, as is the case with most homes in the state. Most of the constructions are new, and many more are expected to come up in the near future.
What’s interesting to note is that many of the apartment complexes are coming up as gated communities with a host of posh amenities such as car parking, club house, compound wall, spa, playground, tennis courts, gym, community halls, jogging tracks, etc. Shriram Panorama Hills on beach road in North Vizag is one such project which is not only filled with amenities, but is also surrounded by scenic beauty. What’s more, the apartments at Shriram Panorama Hills have been built keeping in mind the needs of the homeowners. For example, the bathrooms are fitted with anti-skid tiles, which are important especially when one is living with children and the elderly. Head to Shriram Panorama Hills for the luxury of a beach apartment with amenities at all price points.
Book a beach house in Panorama Hills today
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Real estate investment in Visakhapatnam
Real estate in Visakhapatnam has probably never seen better times. With the formation of Telangana on June 2nd 2014, Visakhapatnam became the largest city in the state of Andhra Pradesh. This, combined with burgeoning planned physical and social infrastructure, has piqued the interest of prospective investors in the coastal city Vizag. In fact, the number of people from outside the state investing in the charming coastal city went up from 30% to 50% in the last four months.
Why invest in Vizag?
Even though Vizag hasn’t become the capital city, the up gradation of the city from Tier–2 to Tier–1 is inevitable because of the growing IT sector, economic stability and the cosmopolitan culture that the city enjoys. One of the biggest aspects influencing real estate in Visakhapatnam positively is the reputation of Vizag as an IT/ITES hotspot. Many BPO, SEZ and IT/ITES companies and industries have built base here, resulting in an IT boom of sorts in the coastal city. With the city emerging as an ideal business destination (especially the Vizag–Chennai industrial corridor), the influx of expats, IT professionals and other workers migrating for work increased, thereby resulting in the development and demand for townships, apartments, villas and other residential properties. Moreover, this boom is still in a nascent phase, and more development is expected to happen.
The next biggest aspect for investing in Vizag is its affordability. Vizag is one of those few cities where the salaried middle class group can hope to buy spacious apartments at affordable rates. Under the aegis of VUDA (Visakhapatnam Urban Development Authority), many affordable apartment projects and residential townships have come up, prompting the middle-class to make their way to Vizag. Last but not the least; the city has many charming properties near the beaches, prompting many people to buy second homes here. Areas like Visalakshinagar, Gajuwaka, Sheela Nagar, Pothinamallayya Palem, Yendada and Muralinagar still have reasonably priced properties near the beaches.
Innumerable choices
Today, Visakhapatnam is the only city in Southern India to have real estate potential upto almost 75 km from the main city. Real estate in Visakhapatnam is being developed in the suburban areas surrounding the city such as Madhurawada, Dwaraka Nagar and Duvvada, and even as far as Srikakulam (about 119 km North of Vizag), Denkada (75 km North of Vizag), Madugula (63 km West of Vizag) and Pudimadaka (46 km South of Vizag). Property values have appreciated by almost 15–20% in the last 4 years. Hence, people have a lot of choices in real estate – not only in the main city but in satellite townships as well.
Other aspects
The city has multimodal connectivity, a proactive and responsible administrative setup and favourable government policies attracting investments of all sorts. Not only that, but Visakhapatnam is also home to many state-of-the-art research and development centres and excellent educational institutions. Throw in the salubrious climate and the cosmopolitan culture, and it is no wonder that Vizag is being touted as the City of Destiny and one of the best places to put your money on. This is the right time to invest in an apartment or a villa at Panorama Hills
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