The executive capital of Andhra Pradesh, Visakhapatnam is growing rapidly towards Vizianagaram, especially in areas like Boyapalem, Madhurawada, Tagarapuvalasa, and Kapuluppada. At the same time, the areas in and around Bhogapuram are also developing, given the development of an international airport. And we cannot skip talking about the rise in Special Economic Zones (SEZs) around Visakhapatnam, like Divis Laboratories.
Vizianagaram is situated perfectly at the center of all of this development, and will naturally reap the benefits of the surrounding expansion. If you are in the market to build your dream home on a budget or purchase a plot as an investment means to grow your wealth in the long run, you need to know how to find affordable plots in Vizianagaram.
With India’s urban population estimated to reach 67.5 crores (675 million) by 2035, the percentage of the population residing in urban areas will touch 43.2%, according to the United Nations (U.N.)
With more people moving into urban areas from rural areas, the speed of urbanization is increasing. But certain discerning people like you are still looking to live in a differentiated environment unlike being caught in an apartment-like environment, while
still wanting to make this an affordable undertaking.
Can luxury meet affordability?
A perfect way to get the best of both worlds is to invest in villa plots outside the city limits and build a villa home on it. Or take a plot in or near an SEZ where industrial activity will commercialize the place and plan to build a villa soon or in the near future. The area would attract employment and naturally create a booming residential area.
Therefore, with investors like you looking for new areas to invest in, it becomes more imperative to look outside of cities to reap larger returns from investing in land.
But why focus on a villa as a type of property that could be the dream home you could build on the land you buy? Villas originated in ancient Rome as upper-class country houses. In fact, the word ‘villa’ is borrowed from the Italian villa, and from the Latin vīlla for ‘country house.’ Of course, villas have evolved considerably ever since.
Nowadays, they are located in gated communities or on large swathes of land. They are more luxurious than apartments or independent houses, and unlike early villas, they can also have multiple floors. Hence, it offers the space and the amenities for you to live the dream of the residential space you always hoped for.
How to Find Affordable Villa Plots in Vizianagaram
Land prices in Vizianagaram vary greatly by location, ranging from a couple of lakhs to a few crores. So how can you decide how to invest in villa plots?
a. Consider buying outside major cities
Land outside the city or in less developed parts of the city is often less expensive and the most preferred or optimal way to find affordable plots.
b. Keep an eye on potential areas
If you are aware of the Vizianagaram area and how the city is expanding, keep an eye on government announcements and upcoming projects in the areas where you are looking to invest. Keeping an eye on these types of developments can help you decide where to buy, and also enjoy lower land rates before prices shoot up.
c. Look for land sales by private owners or the government
Private landowners sell land all the time, either as a whole or as small plots or parcels. Keep an eye out for such sales opportunities by looking up real estate journals or service announcements on key housing marketplaces like 99Acres or Common Floor. In addition, to buy land from the government, the process usually starts with an application to the local District Collector (DC). In the application, mention the reason for purchasing the land
. Government lands may also be sold at discounted prices to be developed or sold at auctions.
d. Attend real estate fairs and find opportunities
Fairs and expos are prime events for builders to attend and reach out to potential buyers, so they are incentivised to give you some kind of benefit - like giving a discount on house construction, should you choose the developer's building services. Some developers may also offer free upgrades to premium materials, improved energy efficiency, or a better building warranty.
e. Buy in land foreclosure
Land sold in foreclosure is often much less expensive than land that is sold outright that comes with restrictions. These pieces of land may have attached obligations, regulations, or other conditions. Therefore, consider these types of plots at your own discretion and whether or not, for example, you are willing to take on any risk or pay off any outstanding debts.
f. Hire a real estate agent
Look for an agent who specializes in buying and selling land instead of agents experienced in selling houses or commercial properties. A good agent can keep an eye out for land that fits your needs and budget, and find such land even in relatively high-value areas, even within the city. A well-versed agent would also be able to advise you on financing options.
Why consider Vizianagaram real estate investment
This is prime time to buy land in a city like Vizianagaram where you will reap multifold benefits in the years to come, in case your immediate goal is not to build a villa. If you choose to build a villa though, constructing it and procuring amenities and other installations will be more economical than what it would have been constructing in a main city like Visakhapatnam. To know more about how to get the best out of your villa plot investment, check Mayan Homes, a leader in affordable villa plot projects in Vizianagaram
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