SEZ to be commissioned at Mangalgiri soon
‘All projects will be completed within next three years’
Returns to be invested for developing infrastructure, says UDA chief
GUNTUR: Cash-strapped VGTM-UDA is all set to rake in a moolah with attractive returns of Rs.200 crore coming over the next three years, through its projects in partnership with various developers in Guntur district.
The Urban Development Authority is executing four housing projects, including the ultra-modern Singapore-class Township at Mangalagiri, two group housing projects, at Ankireddypalem and Pedapalakaluru in Guntur and a group housing project at Tenali.
While UDA had netted Rs.97.52 crore by selling away 53 acres to Arihant Indoafrican Infra Developers & Builders Private Limited to execute the construction of township, it estimates to bag Rs.40 crore and Rs.16 crore respectively by trading about five acres in Guntur. It also expects to pocket Rs.13 crore from trading 4,781 square yards of land at Tenali. Except for the high-end Sinagpore Township, all other housing projects were being aimed at Middle Income Group (MIG) market.
Two institutional projects, a Special Economic Zone and an international school at Mangalagiri would be shortly commissioned.
All these projects were being developed in the Public Private Partnership (PPP) mode and would be completed within the next three years. “We would invest the returns in developing the infrastructural facilities in various zones as per the Zonal Developmental Plans (ZDP) within the jurisdiction of UDA.
Out of 27 zones under UDA, 18 were in Guntur district alone,” VGTM-UDA Chairman Malladi Vishnu and Vice-Chairman Y.S. Prasad told reporters here on Friday.
Laying of roads, ensuring better connectivity, an efficient under ground drainage system were among the developmental works that UDA would be taking up, they said.