Visakhapatnam: In a trend mirroring that of bustling metro cities, the cost of renting houses in Visakhapatnam has seen an unprecedented surge.

While the cost of living tends to be relatively high in capital cities, Visakhapatnam's house rents have been on an upward trajectory long before it assumed the status of an executive capital.

The announcement by Chief Minister YS Jagan Mohan Reddy of the shift to Visakhapatnam from Dasara has further accelerated the spike in house rents within the city.

Visakhapatnam offers a plethora of housing options, with hundreds of apartments available in various areas, including the Bheemunipatnam constituency and other localities.

For instance, a double-bedroom house, which was previously available for a monthly rent of Rs 6,000 to Rs 8,000, is now commanding prices exceeding Rs 12,000 in areas like Madhurawada, Sagar Nagar, and others.

Visalakshi Nagar, one of the city's upscale localities strategically situated between Rushikonda and the city center, has already witnessed a substantial increase in rent prices. The rent for a double-bedroom flat in Visalakshi Nagar now starts at Rs 12,000.

Residents in the area fear that finding an affordable rental property will become increasingly challenging in the near future. M Kranti Kiran, an IT professional residing in Visalakshi Nagar for a monthly rent of Rs 10,000, laments, "For the past six months, I have been trying to find another house within the same locality. However, it's proving to be a daunting task.

Moreover, rent prices have surged, and I'll need to allocate at least an additional Rs 5,000 for a similar two-bedroom house."

Meanwhile, a prominent realtor affiliated with the ruling party has constructed numerous apartment blocks in the city, with some still under construction.

According to a senior official, many of these apartments have been kept vacant, presumably to accommodate officials from the Chief Minister's Office (CMO) during the initial months once they begin operating from Visakhapatnam.

The housing rental boom in Visakhapatnam underscores the city's growing prominence and attractiveness as an urban center, competing head-to-head with metropolitan areas in terms of cost of living and housing demands.

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