Affordable Housing demand soars in Simhachalam, Vizag
Simhachalam which is renowned for the Simhadri or Simhachalam temple is a suburb located about 17 km north of the heart of Visakhapatnam. It is a developing residential realty market known for its availability of affordable residential property. Connectivity through the SH-39 is another important feature of the area. The infrastructure of the area is also developing steadily with many developers showing an inclination to invest in residential projects here. The availability of large land parcels has also contributed towards the construction of affordable housing in Simhachalam.
Connectivity
Simhachalam is well connected to other areas across the city through the SH-39 which passes through its south-western periphery. This highway is also known as the Pendurthi-NAD BRTS Expressway. The Araku-Visakhapatnam Road, which is part of this highway, connects the Pendurthi Road with the NAD Road, along the highway. Besides, the AH-45 is just about a km away from its southern periphery, through the SH-39. Some of the other major roads within Simhachalam are the Simhachalam Road and the Vepagunta–Sabbavaram Road. Buses ply frequently along these roads with numerous bus stops dotting them. The city railway station is about 14 km away while the Visakhapatnam Airport is about 9 km away from Simhachalam.
Infrastructure
There are many infrastructure facilities in Simhachalam that have enhanced its appeal among buyers and investors. Some of the prestigious schools in the area are AP Residential School, Mother Theresa English Medium School, Minerva School etc. Sankar Foundation Eye Hospital is an important health-care facility in the area. Besides the renowned Simhachalam temple, another important temple in the area is the Ganesh temple. Moreover, there are also many banks, restaurants, shopping centers as well as many other facilities in Simhachalam.
Developers and Realty Scenario
Simhachalam has many prominent residential pockets that include Sri Sai Nagar, Srinivas Nagar, Durga Nagar, Prahaladapuram, Gopalapatnam, Laxmi Nagar etc. Some of the important residential colonies in the area are Susarla Colony, Chandanapuri Colony, Simhapuri Colony etc. Most of the residential units in the area are 2BHK apartments. Some of the prominent completed apartment projects here are Sri Lakshmi Towers – III & IV by Sri Lakshmi Constructions, Hema Enclace by Hema Constructions etc. One of the important ongoing apartment projects here is Hi Tech Heaven by Hi Tech Estates and Promoters. The value of residential property in Simhachalam ranges between Rs 1,700 and 2,200 per sq. ft.
Future Prospects
Since Visakhapatnam is a strong contender for being developed as the new capital of Andhra Pradesh, the prospect of Simhachalam getting a facelift in terms of development in connectivity and infrastructure is very bright. Considering that there are vast expanses of developable land available in the area, it presents a lucrative opportunity for developers who have purchased large land parcels for future investment in residential projects. There is also a strong possibility of the area being developed commercially which could result in many prominent companies setting base here. This could lead to an increase in demand for residential property, thereby pushing prices northwards. Hence, investors looking to buy land can expect to reap rich dividends in future.
