An upcoming
residential area, Dwarakanagar is 15 KM from Visakhapatnam (AP - Andhra Pradesh) and has seen an influx of NRIs (non-resident
Indians), on the back of many software and BPO (business processing
outsourcing) companies setting up offices in & around the Visakhapatnam
city, which has a biotech SEZ (special economic zone) and steel & power
plants in the south.
Commercial Hub.!
The Dwarakanagar belt
has multiplexes & schools, and has
become a commercial hub, with shopping centres in a 2 to 3 km radius.
Mr. Ashutosh Limaye,
Head (research and real estate intelligence services), Jones Lang LaSalle India said, “The major
growth corridor is towards the north, along NH - 5 towards Vijayanagarm”
The AP state
government has started an IT SEZ in the Rushikonda hills. A 1,000-square feet
flat in Dwarakanagar will cost about Rs. 35 lakh to Rs. 38 lakh, against Rs. 33
lakh to Rs. 35 lakh last year.
Mr. P. Ramesh, Realty broker said,'' A 1 BHK flat
in Dwarakanagar can earn Rs. 8,000 in rent, as against Rs. 7,200 last
year."
Src: BS
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