Soaring Land Prices Drive Visakhapatnam’s Vertical Housing Boom
Representative AI image VISAKHAPATNAM: The surge in land prices and a limited supply of well-located plots have prompted a transformation in the city’s residential landscape. Developers are increasingly favoring high-rise constructions—ranging from 40 to 50 stories—over low-rise structures of 5 to 15 floors. As new investments flood into Vizag, land costs in prime areas have soared to a point where low-rise developments are typically no longer feasible. Vertical housing offers buyers lower per-square-foot prices (₹1,000–₹1,500 less) and superior amenities compared to standalone buildings. High-rise development enhances land-use efficiency, ensuring projects remain economically viable. Developers cite the necessity of distributing high…