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Realty prices shoot up at Anandapuram

Posted on Jan 28, 2015

VISAKHAPATNAM: Land prices in and around Anandapuram have increased following the decision of the state government to locate the Indian Institute of Management-Visakhapatnam (IIM-V) at Gambheeram.

According to realty sources, residential plots in Anandapuram, which is just 2 km away from Gambheeram, are now sold for Rs 16,000 a sq yard, while earlier the price was Rs 7500 per sq yard.

Besides the IIM-V, central institutes including the Indian Institute of Packaging (IIP) have been planned in the region. Land rates have also increased in Madhurawada from Rs 20,000 per sq yard six months ago to Rs 40,000 now.

Speaking to TOI, realtor Sunil Reddy said, "There has been a huge demand for plots in Anandapuram. As of now in one of our ventures in Anandapuram is booked over 60 per cent."

Sources said that many of the projects are yet to be launched formally, but people are booking plots in advance even before the basic facilities such as roads, sewage and electricity lines are provided.

Another realtor P Narayana of Dwarakanagar said real estate dealers are now finding it difficult to take up ventures in Anandapuram due to high land rates. "Earlier, an acre was sold for Rs 80 lakh. Now it commands a price of Rs 1.5 crore. At Anandapuram junction an acre costs Rs 2.50 crore." He said prices near Madhurawada have also shot up to around Rs 40,000 per square yard near the highway.

"It's impossible to purchase a plot and build a house in the city outskirts," said PS Lokesh, who is planning to buy a plot. "For about 100 square yards, we will have to spend around Rs 15-16 lakh only on the purchase of land. Even then with so many development projects coming up here, we think that it can be a good investment option. The price is only going to increase in the coming days," he said.

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Top reasons to invest in Vizag, Vijayawada

Posted on Oct 08, 2014
A couple of other cities than Hyderabad have been interesting the investors. Two of these key cities are Visakhapatnam and Vijayawada. the property experts discussed the scope of real estate investment in both the cities.Visakhapatnam:- The capital values of properties in the coastal city vary from Rs 2800 to Rs 3500 per sq ft. In the last two year ...
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Growing IT sector boosting Visakhapatnam Residential Market

Posted on May 14, 2012
Visakhapatnam, popularly known as the ‘city of destiny is seeing high growth in real estate sector. Owing to the rapid development in commercial real esate sector, the citys residentail real esate market has shown the positive and growing trends during the Jan-Apr 2012 period.“Residential property values appreciated by 15-20% and the number of tr ...
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Upsurge in US in Chennai’s housing demand

Posted on Feb 11, 2012
According to the survey report has been conducted during the property exhibition conducted in Edison, NJ. Survey report explains 31% percent of the visitors shown their interest in Chennai for investing their hard-earned money in property market.The demand for other metro cities of India such as ranged from Bangalore, Hyderabad, Mumbai, Ahmadabad, ...
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Realty boom on Vizag outskirts

Posted on Feb 03, 2012
Real estate prices have gone through the roof in the ‘city of destiny and city dwellers are now scouting for open spaces on the outskirts of the city whererates are still affordable. While the real estate market is picking up after a three year slump, the boom on the outskirts of the city has gladdened the hearts of realtors and property developer ...
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Hyderabad realty in consolidation mode

Posted on Jan 16, 2012
The year 2012 has begun on a promising note with new projects being announced, a relatively stable political environment without much sign of a stir for the separate Statehood of Telangana, and a successful CII Partnership Summit, which was witness to the assurance of huge investment proposals.Builders hope these would create good vibes for the sec ...
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Investment in real estate by US NRIs dips but Bangalore retains top slot

Posted on Dec 15, 2011
SANTA CLARA: The impact of economic slowdown has been increasingly felt on the overall demand pattern among US NRIs while investing in real estateback home. However, Bangalore continues to remain the favoured destination for investment in housing. But the quantum of demand has dipped over the years. An estimated 45 per cent of the US NRIs wish to s ...
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Big Realtors are moving towards Small Cities.

Posted on Sep 07, 2011
Rising demand for homes in small cities and towns of the country is fascinating real estate biggies. Cities like Bhubaneswar, Bhopal, Indore, Coimbatore, Lucknow, Jaipur, Vadodara, Surat, Nagpur and Visakhapatnam are assessed to add 354 million sqft of residential progress in the approaching 3 years.As per a research, great builders like Unitech, D ...
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Tier 2 cities more attractive for retail loan products

Posted on Aug 05, 2011
Mumbai: CRISIL Research, Indias largest independent and integrated research house, expects increasing finance penetration and the entry of more players to drive faster growth in retail loans demand in tier 2 cities. Despite lower volumes, these markets are as profitable as the larger markets on account of higher yields, says its recent report titl ...
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Jaipur’s a real estate goldmine, reveals a study

Posted on Aug 04, 2011
Jaipur: If rising interest rates are compelling you to stall the idea of purchasing a house then think again. When it comes to buying property any time is a good time. While interest rates are cyclical, real estate prices progress in a linear fashion and always head north. The advice holds good especially for Jaipur, shows global research agency CR ...
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Choice hotel to open soon in Vizag

Posted on Dec 10, 2010
Choice Hotels India announced on Tuesday the opening of its new hotel, Quality Inn Bez Krishnaa, at Dwaraka Nagar, Vishakapatnam, on December 15. At a press meet, the CEO, Vilas Pawar, said it would be the twenty-ninth Choice hotel in the country. “We are adding three or four hotels next month and 14 more hotels are under construction in different ...
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AP Grameena Vikas Bank to focus on home loans

Posted on Oct 11, 2010
The Andhra Pradesh Grameena Vikas Bank (APGVB) has launched a drive to offer more home loan especially to rural customers and those in semi-rural areas, according to J R P Sreedhar, the bank's regional manager. He was speaking at the inauguration of a three-day housing and car credit expo of the bank, which began at the Vysakhi Jala Udyanavanam in ...
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Demand For Flats Increases In Vizag

Posted on Jun 22, 2010
Realtors in Visakhapatnam have a reason to smile. Demand for flats, which in the last two years had been on the decline, has risen again. "Due to the economic recession, the response from the public was very poor till last December for properties in and around the city. Even after flat prices declined by 20 per cent in the last two years, customers ...
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Small is the new big for investors

Posted on Apr 12, 2010
If you thought 'mall' is Greek and Latin to someone in smaller cities and towns you surely need a reality check. Smaller city folk are not being treated to some lowbrow 'country cousin' version of your metro malls - instead, they are witnessing much better and bigger developments.Businessmen have smelt the appetite of locals and are crowding into T ...
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Shriram Properties to build 7,300 flats in four cities

Posted on Dec 04, 2009
Bangalore, Dec 2 (IANS) Shriram Properties, a leading developer in South India, will build about 7,300 apartments in Bangalore, Chennai, Kolkata and Visakhpatnam over the next 24-30 months.“Over 50 percent of the flats (3,042) will be built in Bangalore to meet the growing demand for affordable housing,” Shriram managing director M. Murali told rep ...
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No takers for ready-to-occupy houses

Posted on Sep 11, 2009
HYDERABAD: Here's the real lull story on real estate. Going by the slow pace of sales and more houses than takers, realtors fear that the current stock of properties in the city will not get exhausted before 2012. Even this, they say is an optimistic speculation considering that close to 10,000 houses in the Gachibowli area alone are currently lyin ...
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Hospitality giant on land hunt for city address

Posted on Sep 09, 2009
KOLKATA: Zuri Hotels & Resorts a multinational conglomerate promoted by a consortium of investors from West Asia is scouting for opportunities in Kolkata. The company is open to contract management opportunities as well as setting up its own hotel in the city. The Zuri Group is into real estate, floriculture and hospitality with resorts and hot ...
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JLLM Releases ‘India30 - Real Estate Opportunities in Tier III Cities’

Posted on Jan 29, 2009
With the release of ‘India30 - Real Estate Opportunities in Tier III Cities, Jones Lang LaSalle Meghraj decisively answers the recurring question in investor circles today – Is the Tier III city story over, or is there comeback sequel?The answer is a resounding ‘Yes! This latest report from Jones Lang LaSalles World Winning Cities Research sets ...
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Buyers hesitant to take the plunge

Posted on Dec 01, 2008
A weak sentiment and constant negative commentary have aggravated the problems of affordability and high mortgage rates in real estate, according to Motilal Oswal Financial Services Ltd.A report by the company, based on an interaction with international property consultants, states that buyers are shying away from new projects and those under const ...
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Piramal fund buys Rs 300 cr stake in realty co Neptune

Posted on Nov 26, 2008
MUMBAI: Ajay Piramal-promoted real estate fund Indiareit has acquired about 15% stake in Mumbai-based developer Neptune group for around Rs 300  crore. The deal assumes significance as the fund has chosen to invest in the company, rather than the usual practice of investing in individual projects.Neptune group chairman Nayan Bheda confirmed the dea ...
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