Registration values to rise sharply in Visakhapatnam suburbs

The government plans to increase land registration values in several suburban areas by up to 35%, mainly along the fast-growing IT corridor.

Officials say rapid development around the IT Special Economic Zone (SEZ) and the expansion of firms such as Cognizant and TCS have driven the revision. “Increased IT activity and land allotments have significantly pushed up demand and market prices in these areas,” an official from the Registration Department said.

Authorities expect Madhurawada, Cyber Valley, and areas near the IT SEZ to record the sharpest increases. “These locations have seen consistent real estate movement, and the revision reflects current ground realities,” the official added. Core city areas, where property prices are already high, may see hikes of less than 10%.

Anandapuram mandal, where a Google data centre has been announced, does not feature in the proposed hike list. Land prices in Anandapuram and nearby villages — Tharluvada, Thangedubilli, Ramavaram, and Palavalasa — rose sharply after the announcement. “We received objections at the district level, and those areas were kept out for now,” a revenue official said.

At Kommadi Junction, officials propose raising the registration value from Rs 54,000 to Rs 66,500 per square yard, a 33% hike, while market rates are around Rs 80,000.

In Cyber Valley, authorities plan to increase the value from Rs 42,000 to Rs 56,500 per square yard, a 35% increase. “Similar revisions apply to nearby projects like Cine Police, North Star, and The Address,” officials said.

Madhurawada Junction will see values climb from Rs 54,000 to Rs 66,500 per square yard. Market rates there are around Rs 90,000. Sai Priya Layout will see a 20% hike, from Rs 37,000 to Rs 44,500.

Near Kommadi, in the MVV–GV The Grand area, land values have gone up from Rs 44,000 to Rs 46,500 per square yard. Builders there have increased apartment prices from Rs 3,600 to Rs 3,800 per sq. ft.

At MVV City, opposite PM Palem Stadium, authorities propose raising land values from Rs 44,000 to Rs 56,500 per square yard. Developers have revised flat rates from Rs 4,200 to Rs 4,300 per square foot. The IT Park area will also see a rise from Rs 44,000 to Rs 56,500 per square yard, a 28% increase.

In the city, increases remain modest. On VIP Road, the value will move from Rs 90,000 to Rs 93,000 per square yard, though market rates are around Rs 1.5 lakh per square yard. In Seethammadhara North Extension and TPT Colonies, rates will rise from Rs 85,000 to Rs 87,000. Across MVP Colony, values will increase from Rs 75,000 to Rs 78,000.

For apartments, authorities plan to revise rates in East Point Colony from Rs 5,300 to Rs 5,500 per sq. ft., with similar changes in parts of MVP Colony. In Visalakshi Nagar and Beach Road, officials have added Rs 200 per sq. ft., while market prices remain higher.

“The proposed values are available on the department website and at Sub-Registrar offices. We invite objections until the 29th,” a senior official said. The government will review the feedback and implement the revised rates from February 1.