Vijayawada is turning out to be a nightmare for middle class people who are with out own house. The rents in the city are soaring since November following the Capital announcement. Since Amaravathi has no infrastructure to accommodate the shifting crowd from Hyderabad, demand for houses in Vijayawada is increasing.
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A notable increase of 15 to 30% is clearly visible in the city limits while in places far from the city, the increase is negligible. However experts say there is no expected influx of people from Hyderabad as of now. The soaring prices are purely based on speculations. In some areas, owners keeping their houses empty in anticipation for future fortunes. No one comes to hire them because of the high rents.
The average rent of a two-bedroom in prime areas like Patamata, Benz Circle, Polyclinic Road and areas surrounding Teachers Colony and Guru Nanak Colony is between Rs 15,000 and Rs 20,000. Couple of years ago the rents were 6000-7000.
