Ventures include multiplex, shopping mall
Jury going through 16 bids Cross-subsidising for LIG housing
VISAKHAPATNAM: The Visakhapatnam Urban Development Authority (VUDA) will open financial bids for four of its mega projects on Monday and Tuesday.
The four projects are a multiplex and shopping mall in MVP Colony, a shopping complex at Siripuram, and housing ventures with private partnership at Madhurawada and Vepagunta.
The process of inviting the bids and evaluation by experts before opening financial proposals was detailed at a press conference on Friday. VUDA Chairman P.S.N. Raju and Vice-Chairman G. Venkatram Reddy said that to ensure transparency, a meticulous process had been followed by appointing consultants and a jury to appraise techno commercial proposals.
The jury was going through 16 bids.
The multiplex and mega shopping mall would have a built-up area of 1.2 lakh square feet costing around Rs.18 crores and the Siripuram shopping complex 1.4 lakh sft costing Rs.20 crores. The projects would be on a build-operate-transfer (BOT) basis with VUDA giving land on lease for 5 per cent of land value with escalation every year.
The Madhurawada and Vepagunta housing projects will come up on 80 acres and 50 acres respectively.
Described as mixed use, they would have LIG and MIG housing besides apartments, villas, recreation facilities etc. The site for two international schools to come up at Madhurawada and Rishikonda would be on the basis of outright sale.
The Vice-Chairman said the VUDA was assured of minimum guarantee with revenue sharing arrangement and it would cross-subsidise LIG housing.
The eminent persons involved in the process are Suresh Kuppu Swamy, Director of Department of Architecture, Anna University; Dinakar P. Samant, Chief Architect and Planner of CIDCO, Navi Mumbai, S. Ramesh, Chief Architect of Municipal Corporation of Delhi, T. Ramachander, a practising architect and Y. Ramesh, Town and Country Planner of the Union Ministry of Urban Development.
K.Lakshminarayana, Project Associate of APITCO, consultant for the projects, said a detailed study of the agencies, their experience and that of their associates had been made before coming to the stage of the companies submitting "request for proposal document."
He said a 10-member screening committee had done the evaluation. When it came to housing, because it was being taken up in a difficult terrain in Madhurawada, "architectural, technological, engineering and environmental considerations have been taken into account."