Plots and flats in suburban areas, or right in the heart of the city, along the Beach Road, or in Rushikonda and Madhurawada, the CREDAI Property Expo-2019 has them all.
The desire for a home in one’s own name is the driving force behind the real estate sector, and the property expo was aimed at fulfilling this ambition. A gated community in Madhurawada which is nearing completion is offering flats at ₹3,500 per sq ft — something that a typical middle-class family would be able to afford by stretching its resources.
However, for those with deep pockets, a 2,000 sq ft flat close to RK Beach is also on sale for nearly ₹2 crore, which includes the cost of registration, according to the builder. While the number of flats in the venture is low, the project is spread across a large area.
Approximate rates per sft range from ₹6,500 at MVP Colony to ₹4,500 at Madhavadhara. Another realtor is offering villas near Duvvada for ₹32 lakh to ₹60 lakh.
Realtors are trying to attract prospective customers with freebies. A venture at Gajuwaka is offering free furniture.
Layouts spread
Layouts are located in Tagarapuvalasa, Anandapuram, Achyutapuram, Kapuluppada, Kottavalasa, Bheemili and Duvvada, among other areas. But in plots, there appears to be a wide choice with quite a few number of layouts, including some big names. One group has 16 ventures, another 20 while yet another has 14. But the developers say that with the layouts coming into being a long time ago, many plots have been sold out. There are several other players too. The rate ranges from as low as ₹1,500 to ₹23,000.
A different investment option is being given by a company selling plots in its resorts close to the Agency at ₹3,600 a square yard.
About 10,000 apartments and 50,000 plots are being marketed at the Expo, said CREDAI Visakhapatnam chapter president B. Srinivasa Rao. He said the response on the first two days is overwhelming. “There seems to be a genuine interest among visitors and the venue, Gadiraju Palace, is also attracting a lot of people,” he said. This year, around 20,000 people are expected to visit the annual show. For the sixth successive year, CREDAI Visakhapatnam chapter has been organising the show.
