/24-7PressRelease/ - August 29, 2007 - Andhra Pradesh, the third largest state in India, is the finest example of the IT revolution sweeping India. The state has embarked upon the most exciting ride of property boom. Its major cities such as Hyderabad, Visakhapatnam, and Vijayawada are experiencing great exposure as far as real estate is concerned.
Hyderabad, the city of Pearls, is the fifth largest metropolis of India and serves as the capital of Andhra Pradesh. The city is witnessing upswings in its property prices, which is surely an indicator of the fast pace of economic boom.
Despite all odds, Hyderabad is boosting a good deal of development activities. Rentals and capital values have increased substantially from their yester levels. Hyderabad properties have attracted a huge demand during the general real estate boom and a similar trend is likely to continue.
Property prices in Hyderabad and the outskirts have soared. The prices which were earlier stable at Rs 500 per sq ft in 1991-92, increased to Rs 1,200 per sq ft in 1995 and have recently touched Rs 2000 per sq ft. Majority of demand for commercial properties in Hyderabad came from the IT companies.
Hyderabad enjoys strategic location, a factor which adds to its advantages. The city is almost located at equal distance from all major metros and is well backed up by an array of facilities and the hospitality sector.
Another city of Andhra Pradesh which is making rapid strides is Visakhapatnam, one of the top five fastest growing towns in the country. Property prices in Visakhapatnam have been doubled in the last one year. The area from Rushikonda to Bheemunipatnam is the most famous in Visakhapatnam. Here, the market value of an acre hovers around Rs 9 lakh to Rs 15 lakh.
Taking a look at Visakhapatnam residential property, it is soon to embrace the new living concepts including villas and luxury apartments. Among some upcoming housing projects in the city is Sea Breeze Villa on Beach Road by Sobhan Developers.
Bikash kumar is the contributing author to the http://www.indianrealtynews.com for distinct articles and news. Indian Realty news provides news on commercial and residential properties of various cities like Delhi, Gurgaon, Mumbai, Chandigarh and Bangalore etc in India along with news on latest property investment, finance and property loan and laws in India.
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- andhra, commercial, estate, hyderabad, pradesh, prices, properties, property, real, residential, visakhapatnam
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