The Visakhapatnam Urban Development Authority (VUDA) on Thursday handed over the share of developed area to 67 farmers and land owners in its land-pooling project at Paradesipalem by giving allotment letters on Thursday.
VUDA Vice-Chairman B. Sreedhar gave away individual allotment orders to the landholders at a formal meeting here.
An extent of 1,800 square yards per acre is being given to the land holders who joined the project.
Mr. Sreedhar said VUDA had taken up the land-pooling project as an ideal concept and the Paradesipalem Ozone Valley is the first of its kind in Andhra Pradesh.
The concept is beneficial to both VUDA and the land owners who joined it as the land is developed without any investment from them.
He exuded confidence that the land-pooling project at Paradesipalem, developed in the name of ‘Ozone Valley,' would emerge as one of the best, biggest and spacious localities with a lot of common amenities. Eighty-feet-wide approach roads, 40-feet internal roads, underground drainage, street-lighting, spacious parks, convenient shopping area and many other people-friendly amenities would be developed, the Vice-Chairman said.
The land-pooling layout is being developed in two phases and the first phase is coming up in about 100 acres.
Mr. Sridhar said a proposal for setting up of an IT SEZ was also under consideration and it would help Ozone Valley become a global destination in future.
As many as 121 units in the Ozone Valley layout at Paradesipalem will be allotted through open auction scheduled from January 24. There is tremendous response for sale of applications which started on December 31. Upset price for auction in Ozone Valley land-pooling layout is fixed as Rs.8,000 per square yard.
Mr. Sreedhar categorically stated that the revenue generated from the auction of plots in Ozone Valley would be re-invested for developing amenities in the layout.