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Rising land prices and limited availability of well-located plots are reshaping Visakhapatnam's housing market, driving a shift toward 40-50 storey residential complexes. Developers are favoring high-rise projects to distribute steep land acquisition costs across more units, lowering per square-foot prices and offering enhanced amenities such as gyms, pools, and clubhouses. Demand remains strong due to growth in IT and allied sectors, with micro-markets like Madhurawada Kapuluppada, Anandapuram Kommadi, Bhogapuram Bheemili, and Yendada Rushikonda seeing increased activity. Vertical housing also improves land-use efficiency and aligns with modern buyer expectations.
Visakhapatnam's residential market is increasingly shifting toward taller buildings as land prices climb and the availability of prime plots declines. Developers are prioritizing 40-50 storey complexes over traditional 5-15 storey projects to make high-cost land financially viable. By building vertically, they can spread steep land acquisition costs over more apartments, reducing the per-square-foot price by roughly INR 1,000-1,500 compared to low-rise standalone developments. High-rise projects also offer amenities such as pools, gyms, and clubhouses, which appeal to today's buyers. Advertisement
The trend is supported by changing buyer preferences. Homebuyers are looking for security, organized parking, and shared facilities that vertical housing provides efficiently. Urban planners note that land-use efficiency improves dramatically in high-rise developments. On one acre, a floor space index (FSI) of 1.0 can accommodate about 31 two-bedroom apartments, while increasing FSI to 4.0 allows nearly 126 units, compared with only 8-14 villas in horizontal layouts.
Historical developments in the city set precedents for vertical housing. The Indian Navy's 10 storey complexes at the Naval Coast Battery were early benchmarks, and the Navy is now constructing a 41 storey sailors block at Nau Sena Bagh, which will be the tallest building in Visakhapatnam. Currently, the 35 storey complex in Seethammadhara is the tallest residential building in the city and north Andhra.
Housing demand remains robust, fueled by the IT and allied sectors. Areas such as Madhurawada Kapuluppada, Anandapuram Kommadi, Bhogapuram Bheemili, and the Yendada Rushikonda corridor are experiencing increased development, supported by road expansions and infrastructure upgrades. Land prices in Anandapuram and Bheemili, 20-30 km from the city center, have doubled or more following announcements of IT investments, with one-acre plots now trading at INR 5-6 crore, up from INR 2.5-3.5 crore a few months ago.
Standalone residential units currently sell for INR 6,000-6,500 per sq ft, while high-rise apartments are priced between INR 4,000-4,500 per sq ft. Developers emphasize that regulated vertical growth, combined with sustainability measures such as sewage treatment plants and rooftop solar installations, can conserve land, reduce service costs, and enhance public transport efficiency. Clearer building regulations and faster approvals are seen as essential to protect project timelines and create a skyline that reflects the city's evolving urban profile.
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