visakhapatnam real estate prices have gone through the roof in the city of destiny and city dwellers are now scouting for open spaces on the outskirts of the city where rates are still affordable while the real estate market is picking up after a threeyear slump the boom on the outskirts of the city has gladdened the hearts of realtors and property developers yes the real estate business is on the upswing and we are expecting things to get even better in the coming months realtor g rama jogi told toi he said that skyrocketing property rates in the city was forcing the business and middle classes to look for options on the outskirts there is a huge demand for land now in sabbavaram nakkapalli chodavaram and anakapalli mandals on vizags periphery a cursory glance at land rates in vizag is enough to illustrate the change the real estate business has witnessed in the last five years square feet rates in posh areas like mvp colony lawsons bay colony kirlampudi layout seetammadhara beach road dasapalla layout asilmetta and dwaraka nagar used to be rs 2200 five years ago now the prices have shot up to rs 38004500 a square feet in middleclass localities like madhavadhara murali nagar and akkayyapalem the rate is rs 3000sqft even in areas like madhurawada kommadi pm palem gajuwaka kurmannapalem sheela nagar duvvada and sagar nagar square feet prices have gone from rs 1500 to rs 20002500 realtors say that in the city a twobedroom apartment measuring 1000 sqft would not come for anything less than rs 30 lakh on the outskirts the same apartment can be had for rs 20 lakh with the suburban property market thus becoming hot there has been a two to threefold increase in registrations in sabbavaram narsipatnam nakkapalli chodavaram and anandapuram mandals however despite skyrocketing prices a member of the real estate developers organisation said that they were selling 5000 to 10000 flats in the city