The next time you need a new home, don’t forget to consider the cost of living in your area.
While the cost for a home in Vizag is about 60 per cent more than in the national capital, the average rent in the city is about Rs 1.5 lakh per month, according to the real estate website, The Landmark.
The average cost of a flat in the district is Rs 1,100 per month.
In the city, it’s about Rs 3,000 per month in Vizags urban areas, which are in Vizig, Sarat and Chittoor.
This is due to the fact that the prices of the flats are cheaper than the national average.
However, the cost per sq metre in Vizagos urban areas has gone up by around 30 per cent, to Rs 1 lakh.
In Vizag, the national per sqm cost of flats has increased by nearly 40 per cent to Rs 3 lakh per sq meter, from Rs 2,800 per sq metres in the last fiscal.
The city’s average rent for a single unit has gone down by Rs 20,000 from last year, to around Rs 1 million, according the realty website.
In 2019, the rent for single units in the Vizag metropolitan area was Rs 2.5 crore per sq. metre.
This was due to an increase in the number of properties in the area.
According to the city’s real estate department, the number per sq ft in VizAG has been increasing over the last 10 years.
However, according for some reason, the local government has not been doing any work to address the problem of the average high-rise apartment prices.
Instead, the city government has made it easier for the local developers to build high-rises in the metropolitan area.
In the last five years, Vizag has had more than 50 high-rising apartments, according an official from the city.
According the official, the high-residences have been built on private land.
According to the official at the city office, the current situation is due mainly to the high cost of construction of the high rise apartments, which was in the budget for last fiscal, as well as the government’s refusal to allow private developers to construct high-up apartments.
The city has also been pushing for the construction of more affordable housing.
“It’s a big problem for us because the demand for housing is low.
There is a big demand for affordable housing and a shortage of housing.
We need to find a solution,” said the official.
For more than five years now, Vizags city has been facing a housing shortage, which is causing an increase of more than 30 per, according, the official cited above.
According the official quoted above, the problem was aggravated when the government allowed the construction on private property in the municipality.
As a result, the development of a high-end apartment complex in Vizagu was stopped, which meant that the demand was not met.