Realestate News

Residential buildings go commercial

Visakhapatanam news

Visakhapatnam: With an eye for better rentals, a large number of residential buildings are being converted into commercial spaces in residential localities across the city.
Whether it is MVP Colony, Seethammadhara, CBM Compound, Maharanipeta, Akkayyapalem, Ramnagar, Balajinagar, Dabagardens or localities on the outskirts such as Madhurawada, there is a surge in residential flats and individual houses being rented out as commercial establishments to run a business.
According to realtors, the residential-turned-commercial buildings rake in 20-30% higher rentals when leased out as office-space as compared to residences. While flat owners are laughing all the way to the bank, residents are peeved with additional traffic, lack of parking space, increased waste generation and above all an increased noise in their localities.
Schools and day-care centres, restaurants, clinics, office-space for banks, real estate agents among others use these residential-turned-commercial buildings in the city.
“The peaceful life of a residential locality is spoilt by the presence of commercial shops,” opined KV Krishna Kumar of MVP Colony. He said, “More number of people start coming to these offices and park vehicles wherever they want to, causing inconvenience to the public. In addition to that, sometimes there are fights that we have to bear. There are innumerable curry points that are springing up and creating a huge mess of the entire area. Due to this dogs, cows and crows are also increasing.”
Nanduri Ramakrishna of MVP Colony said, “Some of these people are not leaving the footpaths and are even encroaching the roads. As a result, residents are facing accidents and getting exposed to unhygienic conditions.”
CPM city secretary B Ganga Rao said, “Commercial spaces should not be allowed in residential areas. It causes a lot of inconvenience to the people. Most of it takes place due to political influence and the GVMC should take action against people who are violating the regulations.”
Responding to the issue, GVMC commissioner Pravin Kumar said, “If specific issues are brought to our notice, then we will take action as per rules.”