A plot in Cyber Valley layout fetches Rs.24,537 per square yard

Auction conducted by VUDA for allotment of plots in 15 layouts concluded on Sunday. VUDA netted revenue of Rs.24.82 crore by allotment of 63 plots in and around Visakhapatnam and Vizianagaram.

The highest price of Rs.24,537 per square yard was received for plot No.65 in Cyber Valley layout in the two-day auction. On the first day, 25 plots went under the hammer generating revenue of Rs.9.35 crore.

There was good response for plots in Madhurawada and Narava joint venture layouts in the two-day auction at Swarna Bharati Indoor Stadium.

Plots in the Madhurawada area went for an average of Rs.18,000 per square yard and those in Narava joint venture layout and at Vizianagaram received the highest price of Rs.7,050 and Rs.9,700 respectively.

VUDA Vice-Chairman N. Yuvaraj introduced measures to ensure genuine participation by tightening the auction norms. The auction procedure was also made transparent.

Dr. Yuvaraj personally supervised the auction proceedings at every level to make the process smooth and simple.

A notification would be issued next month for allotment of leftover plots, he said.

VUDA Secretary G.C. Kishore Kumar conducted the auction as Auction Officer supported by Chief Engineer I. Viswanatha Rao, Chief Accounts Officer D. Vijaya Bharathi, and in-charge DFO V. Bhavani Shankar. Executive Engineer M. Balarama Raju and manager Subhadra Devi attended.

Enabling the applicants to avail themselves of banking services, the VUDA branch of Indian Overseas Bank arranged a special counter on both days and under the supervision of senior branch manager S. Hanumantha Rao.

More In: Visakhapatnam