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Where can one find apartments for INR 30 lakhs in Vijayawada?


Where can one find apartments for INR 30 lakhs in Vijayawada?

Vijayawada has fast developed into an attractive Tier II real estate destination for many property seekers. And with the city’s realty market being favourable to both end users and investors, many real estate developers are coming up with innovative residential projects to woo home buyers. And with the affordable housing segment being a hit amongst the MIGs, builders are now providing generous living spaces at economic prices. While localities like Gollapudi and Ibrahimpatnam have many apartment projects that fall between the price band of INR 3,300 and INR 3,600 per square, Nunna offers housing units for INR 2,500 per square feet, making the locality a sought after realty destination for many working professionals.

Where can I find affordable 2 BHK apartments for rent in Vijayawada?

With the city expanding along NH 5 – many major IT players are now entering the market. This in turn is attracting a pool of working professionals who are creating a robust rental market. But with the slump in economy forcing IT employees to rent out spaces, several second time home buyers and investors are stocking up inventories along IT parks and are renting out spaces to earn handsome rental yields. Localities like Patamata, Giripuram, Benz Circle and Labbipet all offer 2 BHK homes for a rent of INR 8,000 or below. Depending on how the homes are furnished, rental values of homes are cited to hover anywhere between INR 7 and INR 9 per square feet per month.

What are the upcoming realty corridors in Vijayawada?

The presence of many automobile and hardware units have rapidly expanded the city’s horizons and several peripheries are now surfacing as realty destinations. Poranki and Gollapudi have many under construction and ready to move in apartment projects that cost an average of INR 55 lakhs. Ashok Nagar and Kanuru are two destinations that are dotted by many builder floor projects that cost an average of Rs 4,550 per square feet.

Where can I buy independent homes/villas in Vijayawada?

The luxury segment is very slowly yet strongly flourishing in the city and real estate developers are wooing many NRIs, HNIs and affluent locals by creating capital ventures that offer all modern day amenities. Gannavaram, Machavaram, Bhavanipuram and Patamata are 4 localities that are currently brimming with constructional activities. They are dotted with several villa projects and independent homes. Capital values of these property types are expected to hover anywhere between INR 9,000 and 11,480 per square feet.

Nidhi C Thacker for IndiaProperty.com

Image: By Gautam Sanka (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

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