The Hindu : Front Page : APHB plans township in joint venture

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Friday, Feb 08, 2008
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APHB plans township in joint venture

G.V. Prasada Sarma

Villas and high-rises to come up at Vepagunta in the city

VISAKHAPATNAM: The Andhra Pradesh Housing Board is coming out with a joint venture township on 50 acres of land at Vepagunta in the city. A Bangalore-based company has bid for the land offered by the APHB.

Besides being the highest bidder, the company will share revenue generated from the project with the APHB.

The company will construct villas and multi-storied buildings in the township. As a part of the agreement it will construct LIG houses for the board in about 2.5 acres of land - in five per cent of the total extent.

The number of LIG flats that will be given to the APHB as part of the agreement is 400, according to B. Raja Gopal Rao, Executive Engineer of APHB.

The township will have, among other things, a shopping mall and an international school.

The company has bid for the land at the rate of Rs.67 lakhs an acre and deposited the amount. Besides, it will share 3.75 per cent of the revenue generated. The project is reportedly scheduled for completion by the end of 2009.

Layout approval

Mr. Raja Gopal Rao said the LIG flats would be allotted to the public for which applications would be called. The LIG flats will be a G+3 structure.

While part of the land is in a residential zone in the Master Plan, a part of it is in agriculture zone. Efforts for conversion of the land use are going on, the Executive Engineer said.

Pending the clearance, efforts are on to launch the first phase of the project. Widening of the road for approach is also on the cards.

At present, layout approval is being obtained with a 60-ft road.

In the first phase, the project envisages construction in more than 35 acres of land.

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