Overview of Pothinamallayya Palem, Visakhapatnam

Spot and Fame

Pothinamallayya Palem is a standout neighborhood in Visakhapatnam, celebrated for its excellent location and flourishing real estate market. It is popular among both homebuyers and investors.

Kinds and Sizes of Properties

• Condos/Apartments: Available in setups like 2 BHK and 3 BHK, with built-up areas from 800 Sq Ft to 1950 Sq Ft.
• Houses: Not as common, but some standalone houses are present here.
• Land Plots: Options for people who want to build custom properties.

Price Range

Pothinamallayya Palem offers property prices that differ greatly:

• Condos:
  • 2 BHK: ₹ 40 Lakh - ₹ 70 Lakh
  • 3 BHK: ₹ 50 Lakh - ₹ 1.15 Cr.
• Price per Square Foot:
  • Starting price: ₹ 3,756 per sqft
  • Typical price: ₹ 4,800 - ₹ 5,132 per sqft
  • Maximum price: ₹ 7,333 per sqft.

Residential Estates

Several estates are available here:

• MK Elite: 2, 3 BHK flats at prices from ₹ 45 Lakh to ₹ 90 Lakh.
• MVV Enclave: 2, 3 BHK flats priced between ₹ 50 Lakh to ₹ 70 Lakh.
• Bhoomatha Sai Durga Enclave: 2, 3 BHK flats with ranges from ₹ 50 Lakh to ₹ 80 Lakh.
• SRC Dwarakamayee: 3 BHK flats at prices between ₹ 80 Lakh to ₹ 1.05 Cr.

Rental Choices

If renting suits you:

• Monthly Rent: A 3 BHK condo can go for around ₹20,000 per month.

Market Trends

• Year-over-Year Growth: Property values here climbed by 1.85% last year and 4.3% over 1 year, showing stable growth.
• Long-term Appreciation: The area has appreciated considerably over the past 5 and 10 years, rising by 38.6% and 47.0% respectively.

Conveniences and Lifestyle

• Top spot: It gives a secure setting and lively neighborhood.
• Groups and Constructors: Popular builders develop properties that feature many amenities and choices.

PropertyWala’s Wrap-up

Pothinamallayya Palem in Visakhapatnam offers a mix of affordable and luxury properties, making it perfect for buyers and renters alike. With its top-notch location, stable market trends, and different types of houses, it’s an ideal spot for those looking to buy or rent real estate. Long-term price increases here make it a great place to invest, and the different property types meet various budgets and wishes.