Prospects of IT boom in Vizag kindle demand for Studio Apartments
Rising influx of IT professionals drives demand for compact, serviced housing in the port city
Visakhapatnam: With Google pitching in to install a mega data centre and allied companies likely to follow, builders in Visakhapatnam are venturing into constructing studio apartments.
Already, there has been a steady influx of IT professionals and management trainees into the port city, who are looking for good, economy-class dwellings.
Vizag chapter CREDAI (Confederation of Real Estate Developers’ Associations of India) president E. Ashok Kumar underlined that the entry of global tech leader Google and several other IT companies has set Visakhapatnam on a fast track to becoming a major technology hub.
This will see a surge in professionals arriving in the city for short-term corporate assignments, apart from single techies, who prefer compact, serviced studio apartments. This is giving rise to a new housing segment which will cater to the changing business landscape.
“With the number of corporate professionals in the city of destiny growing, the demand for studio apartments has been rising consistently. Currently, there are only about 20 to 30 such structures available, which are already full,” Ashok Kumar told this correspondent.
Typically, the size of studio apartments ranges between 400 square feet to 600 square feet with furniture and essential modern amenities. They are usually rented on a daily or monthly basis, offering convenience and privacy for visiting executives and professionals.
Ashok himself has launched a project to develop 400 studio apartment units at Bheemili between Bhogapuram International Airport and Visakhapatnam city.
Industry experts believe that such developments reflect the city’s broader shift toward becoming a diversified urban hub. With expanding infrastructure, improved connectivity, and increasing corporate presence, Vizag is poised to emerge as one of India’s most promising destinations for technology, business and real estate investment.
“Studio apartments are convenient for individuals or a couple, as these dwellings are much cheaper than apartments for long stay and hotels for a shorter period,’’ said an IT professional from Hyderabad who has moved to Visakhapatnam.
