Rental Values shot up after city was made state capital
Picture for representational purpose. (Photo: DC/File)
Vijayawada: The cost of living has shot up in Vijayawada, the city that is now the state capital. One has to pay a minimum of Rs10, 000 per month to rent a two-bedroom house in most parts of the city. Post bifurcation, rental values have shot up dramatically, of both independent houses and apartments.
For a single bedroom house, one now has to shell anything between Rs7,000 to Rs 8,000 in Patamata that includes Benz Circle, Autonagar and other areas. It is around Rs9,000 to Rs 12,000 for a double bedroom flat in the same area.E. Durga Rao, a rental agency owner, said on an average, the rent values for houses in Satyanara-yanapuram, Moghalrajp-uram, Gurunanaknagar and Ring Road are between Rs 8,000 and Rs10,000 depending on the location.
“In the next two weeks, the rents are expected shoot up by another 30 per cent as city is now officially the capital,” Mr Durga Rao said. Some areas like Kris-hnalanka, Patamata and Moghalrajpuram, which are much in demand, tenants are being forced to pay increased rents or vacate. “A fortnight ago, we were informed that rent was hiked, following the capital talk. There was no valid reason for increasing the rent. It is an unethical practise by the landlord,” said S. Vara-lakshmi, a resident of Patamata.
( Source : dc correspondent )
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