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Web Exclusive | March 2014

VUDA puts 261 vacant plots on the block

By Rahul Kamat
 The Visakhapatnam Urban Development Authority has put up 261 vacant plots spread over 19 acres on sale. The authority has placed a base price on a per sq yard basis, which ranges from Rs 2,500 to Rs 50,450 per sq yard.
 If all goes well, the authority is expected to gain more than Rs 1,000 crore from this move, which will help them to take up other infrastructure projects in the vicinity.
 All the plots will eventually be used only for residential purposes. The vacant plats for sale are in Adibatlanagar, Kurmannapalem, Bheemunipatnam, Kapulauppada, Cyber Valley- I & II, Chinamushidiwada, Kummaripalem, Madhurawda, and Sontyam. The last date of submission is 5 April 2014 and open auction will take place on 20 April.
 “We have already received a number of applications, however, it is premature to talk about the response for the same in such a short period,” said a source from VUDA.

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