Real Estate Properties in Visakhapatnam

Often called the 'Jewel of the East Coast', Vizag is a port city located at the southeast coast of India. It’s, in fact, the third-largest city on the east coast of the country. The city is the administrative headquarters of the district of Visakhapatnam, another name for the city, in Andhra Pradesh.

Vizag is situated amongst the hills of the Eastern Ghats. While resting in these hills, the city faces the mighty Bay of Bengal. Just like Goa in the west, Vizag contains many pristine beaches and picturesque areas. Climate-wise, the humidity in this city remains quite high because it lies by the sea. The temperatures don't alter much throughout the year. The location of the city and its climate, therefore, attract tourists all year round.

Vizag is an industrial city. Besides a major steel plant, it hosts many other heavy industries owned by the state. It also has the country’s oldest shipyard and India’s largest naval base - INS Kalinga. Health-tourism is an industry in the making in the city. This industrial scenario attracts migrant workers from all across the country.

Stats And Facts

• The population of Vizag, as per the provisional reports of the Census 2011, is 17,30,320
• The city’s sex ratio is above the national average at 977 per 1000 males. Child sex ratio, although not impressive, is still well above the national average at 959 per 1000 boys
• The average literacy rate as per Census 2011 in the city is 82.66%
• Demographically, Vizag is diverse. There is a rich concentration of Oriya, Punjabis, Marwaris, Bengalis, Malayalees, and Tamils. The local language, however, is Telugu
• Buddhist influence has loomed large over the city’s history with so many relics like ancient Buddhist monuments suggesting the rule of a Buddhist empire far back in time
• Vizag, also known as Visakhapatnam, is also referred as the 'City of Destiny', 'Coromandel Coast', 'Goa of the East Coast' and 'Steel City'

Vizag – Bustling Industrial Sector

• Vizag is an industrial powerhouse, despite the fact that it was traditionally a fishing town. Today, both industry and fishing co-exist in their respective spheres
• The international port in the city contributed greatly to the development of the steel, petroleum and fertilizer industries
• Some of the industrial giants whose factories and units are located in Vizag are Hindustan Shipyard Ltd., Hindustan Petroleum Corporation Ltd., Bharat Heavy Plate and Vessels Ltd., and Visakhapatnam Export
• Vizag is also a hub for the export of iron ore and other minerals. The surrounding states are mineral-rich regions and these are transported by rail or road and then exported to countries like China
• The Economic Zone in the city houses prominent industries such as Reliance, Birla and Hindustan Petroleum Corporation Ltd

Connectivity

• Vizag is connected by air through the Visakhapatnam airport. Daily flights connect the city to important domestic cities like Mumbai, Delhi, Bengaluru, Chennai, Kochi and Kolkata and international cities like Singapore and Dubai
• The city is connected by rail to various cities across the states of India. The Visakhapatnam Railway Station is on the Chennai Central-Howrah station route. To improve the train service in the city, a suburban railway station called Duvvada railway station is being developed into a satellite hub
• The NH 5, a national highway that is part of the Golden Quadrilateral project, connects Vizag with other major Indian cities. Cargo transport occurs through this system. The city roads also connect the residents to different towns and cities in Andhra Pradesh
• The residents use Andhra Pradesh State Road Transport Corporation (APSRTC) buses to travel around the city

Vizag Civic Administration

• The civic body - Greater Visakhapatnam Municipal Corporation (GVMC) - governs the city of Visakhapatnam. Formerly, the body was called Visakhapatnam Municipal Corporation.
• For administrative convenience the city is divided into 7 zones comprising 80 wards
• The Mayor heads the council which meets once every month. The commissioner heads the executive wing of the council

Vizag Infrastructure

• Owing to the rapid industrialization of Vizag in the past decade or so, there was a strong need for developing the supporting infrastructure for fueling the city’s economy. Both the Central and State governments have injected funds into the city for development activities such as augmenting water supplies, developing roads and improving sewage and drainage systems
• The Visakhapatnam Urban Development Authority (VUDA) has, over the past few years, focused on initiating green projects and widening roads. Once the Bus Rapid Transit System (BRTS) is put in place, traveling within the city should become even easier. Besides, the city is anyway well connected by road, rail, and air. The airport, in fact, is being transformed into an international airport

Infrastructure Projects

Vizag Real Estate Market

• As many prominent software players have announced their plans of setting up offices in the city, Vizag real estate market prices are hiked
• VUDA has been launching several mega-housing projects in visakhapatnam. These projects will have average and large-sized apartments
• The city witnesses a competition between bungalows and individual houses, and high-rise apartments in visakhapatnam
• NRI investment has been pouring into the city with several NRI-specific projects being developed. The green environs of Kapulauppada and Rushikonda host many luxury villas, apartments and farmhouses for NRIs to stay

Key Localities In Vizag

Charges By Different Government Bodies

Property Registration

• Stamp Duty for Rural and Urban Areas: 4%
• Transfer Duty For Rural and Urban Areas: 1.5%
• Registration Fee: 0.5%
• Net Overall Registration Charge: 6% of market value

Eastern Power Distribution Company Of Andhra Pradesh Limited (APEPDCL)

• APEPDCL was formed in the year 2000 to serve as a distribution company of AP Transco. Today, it’s responsible for distributing and supplying power in bulk to many different districts in Andhra Pradesh including Vizag

Electricity Charges

• Domestic, for a contracted load of 500 W and below

General Purpose

• KVA charge: Rs 20/month
• Energy Charge: Rs 4.50/unit
• Detailed tariff for all the different purposes is provided on the APEPDCL website.

Greater Visakhapatnam Municipal Corporation

• The city’s municipal corporation, called Greater Visakhapatnam Municipal Corporation is responsible for supplying water in the city. It caters to the water needs of the various sections in the city ranging from domestic to industrial use. It has also taken up several projects under its wing under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme.

Water Tariff

Domestic

• Below Poverty Line: Rs. 60/month
• Middle & Upper-Middle Classes: Rs. 120/month

Industry

• Raw Water: Rs. 26/KL
• Treated Water: Rs. 36/KL

Project Saukaryam

• Project Saukaryam is a project that was launched by the city’s municipal corporation way back in 2001. The project, whose name translates as ‘convenience’ in English, was meant to stand as a model for governance for all cities. The goal of the project was to put up all civic facilities online on the Visakhapatnam Municipal Corporation website. This way residents of the city didn’t have to visit government offices for seeking information and paying bills. Over a decade after its launch, Vizag’s civic facilities are extremely accessible to anyone with an Internet connection.