Most of the villas in Rushikonda IT park, Vishakapatnam are soldout a long ago but barely 30% of them are occupied till date. The villas are located amid breathtaking locales but buyers are hesitant to settle down due to lack of supporting infrastructure. Basic infrastructure issues like streetlights, provision stores or shopping malls and connectivity issues are lacking in the area.
Also the owners of villas here have bought them due to the expectations that the IT industry will pick up here as it is very nearer to ITSEZ. The buyers are expecting rents as much as One Lakh for these villas but existing circumstances such a rent is not feasible. But the buyers are willing to sit down and wait.
However there are some other private ventures coming up around these villas where developers are providing proper infrastructure and basic amenities. They are even setting up a provision store, gym and club house so that people can shift immediately without any constraints. In case these projects come up, the old villas will face definite problems.
