Madillapalem: Upcoming affordable residential area in Vizag
Madillapalem, which is located about 20 km east of the heart of Visakhapatnam along the NH-5, is fast developing as an important residential area in the city. Besides its strategic location, the area is also renowned for its affordable housing as well as its infrastructure facilities. Besides, it is also in the vicinity of other important residential micro-markets like Madhavadhara, Dwaraka Nagar, MVP Colony, Pedda Waltair and Ram Nagar among others.
Connectivity
Madillapalem is well connected across the city through some important roads that pass along it and through its peripheries. The NH-5 (AH-45) that runs across the city divides the area vertically into two. Some of the other major roads passing through its peripheries are the Seethammadhara Road, passing through its western periphery and the HB Colony Road passing through its northern periphery. The city railway station is about 6 km away from Madillapalem while the Visakhapatnam Airport is about 13 km away along the NH-5.
Infrastructure
Madillapalem has many infrastructure facilities that add value to the demand for residential property here. Some of the reputed schools in the area are Sri Sarada Vidya Nilayam, St.Paul’s Public School and Rani Memorial Vidyalayam among others. There are many prestigious colleges here that include Dr VS Krishna Government College, SVVJ College and Krishna College among others. Some of the important health-care facilities in the area are Nikitha Hospital, AMG Ruth Deichmann and Nokitha Hospital among others. There are also many important religious institutions like Durgalamma temple, Bala Yesu church and Tara mosque among others. There are also many prominent companies here including IT companies. Besides, there are many other important facilities like banks, shopping centers, restaurants and parks among others.
Developers and Realty Scenario
Madillapalem has some important residential pockets like KRM Colony, Pithapuram Colony, Mangapuram Colony and Nakkavanipalem among others. Most of the residential units in the area are either 2 or 3BHK apartments. Some of the important completed apartment projects here include Navyas NuElite by Navyas Contructions, Vuriti Vinayagar by Vinayagar Promoters and Builders and MVV Paradise by MVV Builders. There are also many ongoing apartment projects here as well. Values of apartments here range between Rs 40-60 lakh with the sq. ft. value range being between Rs 3,500-3,800.
Future Prospects
Madillapalem has the prospect of developing into an important residential area due to the potential that it has in terms of development. Moreover, its connectivity across the city as well as the varied infrastructure facilities that it offers are likely to enhance the demand for residential property in the area. Besides, the availability of large expanses of developable land augurs well in terms of its future potential to utilise such land parcels for various infrastructure as well as residential development projects. Developers who have already purchased land parcels for future projects are expected to embark on such projects as and when the demand for residential projects picks up. Investors can also expect healthy returns on their property investment due to appreciation in property values.
