Hyderabads loss turning into coastal APs gain?

VISAKHAPATNAM: After a long lull, the realty sector in north coastal Andhra districts is showing signs of revival. Despite the hike in construction costs and home loan interest rates, the political uncertainty in the state in the wake of Sakala Janula Samme for a separate Telangana, has given a boost to the realty sector in the region, particularly in the city.Making huge investments in the realty sector was a thing of past as a majority of realtors had virtually struggled to sell plots in their ventures due to slump.According to an estimate, 20,000 acres of land in Srikakulam, Vizianagaram and Visakhapatnam districts has got locked in real estate ventures for the past three years due to slump in the market.In recent times, there is a slight increase in the sale of plots in Vizianagaram and Srikakulam districts. In Vizag, the demand for flats in residential complexes is not up to the market expectations. But the spurt in industrial activity in the region has given the much needed thrust to the real estate sector.The increase in demand for urban housing has also led to rise in construction activity on the suburbs of port city and adjacent to the national highway.The proposed Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) between Visakhapatnam and Kakinada is another factor for the real estate revival in the region.According to P Venkatacharyulu, manager of SSV Rentals and Real Estates, the prices of land in prime areas like Siripuram, MVP Colony and Dwarakanagar in Vizag are Rs 60,000 to Rs 80,000 per square yard.The land prices on the city suburbs range between Rs 10,000 and Rs 12,000 per square yard. The prices of land in the city have started showing an upward trend in recent months. The demand for plots in Vizianagaram and Srikakulam districts has also slightly increased in recent months.The upward trend in the realty sector in Vizag is likely to continue for sometime irrespective of the political developments in the state