VISAKHAPATNAM: Rising land prices and limited availability of large, well-located plots are changing the residential landscape of Visakhapatnam, with developers increasingly opting for high-rise housing projects.
“Land values have climbed to levels where low-rise developments are becoming difficult to sustain in prime areas,” said E Ashok Kumar, president of the CREDAI Visakhapatnam chapter.
“Vertical construction offers a practical way to optimise land use while maintaining project viability.”
He said high-rise projects allow developers to distribute land costs across a greater number of housing units. This helps manage rising expenses and maintain price balance in a competitive market.
According to him, the shift is not only driven by cost factors but also by changing buyer preferences.
Ashok Kumar said homebuyers today look for security, dedicated parking and shared amenities. Demand for housing in the city remains steady. Industry representatives attribute this to employment growth in the IT sector and allied industries, especially in areas located close to emerging business hubs.
“Several micro-markets are witnessing increased activity in vertical residential launches, including the Madhurawada-Kapuluppada corridor, Anandapuram-Kommadi, the Bhogapuram-Bheemili stretch and the Yendada-Rushikonda coastal belt,” said E. Ashok
Kumar, president of the CREDAI Visakhapatnam chapter.
“Developers link this trend to road expansions, infrastructure upgrades and improved connectivity.”
Ashok Kumar said vertical expansion, when supported by adequate civic infrastructure, can improve land-use efficiency and support planned urban growth.
He stressed the importance of clear regulations and faster approvals by the authorities to ensure projects are completed on schedule and costs are kept under control.