Rents to go up by June in Vijayawada
Demand for accommodation goes up in Vijayawada
By : DC Correspondent
Update: 2015-05-28 05:33 GMT
Vijayawada: With the state government and its officials slated to move to city starting from June, demand for residential spaces have shot up in the city. To cash in on the demand, rental agencies and house owners are gearing up to hike the rents of individual houses and apartments.
In few areas in the city the rents have already shot up. One has to shell out at least Rs 10,000 to rent a decent two-bed room house in the city and the rent is more than Rs 15, 000 in case of three bedroom houses in the city.
Starting from bifurcation of the state, rental value for individual houses and apartments have been increasing in the city and the prices almost doubled in the past few months. “Whenever there is an announcement relating to Vijayawada and its development, some of the rental agencies take advantage and increase the rental values.
Now, as there is a necessity for state government employees in Hyderabad to shift to the city, the demand for houses has grown and prices are likely to shoot up from June”, said a rental agency owner on condition of anonymity.
For a single bedroom house, one has to shell out anything between Rs 7,000 to Rs 8, 000 in Patamata that includes Benz Circle, Autonagar and other areas. Similarly rent was around Rs 9,000 to Rs 12,000 for a double bedroom flat in the same areas. In most colonies, where higher officials are expected to reside prices are exorbitant.