Many takers for VUDA proposal

Staff Reporter

Ultramodern township planned in Dakamarri

Land development

under PPP

State sets target of Rs 1,000 crores to VUDA

VISAKHAPATNAM: Over 15 developers responded to the Visakhapatnam Urban Development Authority’s proposal to develop an ultra modern township on 98.64 acres at Dakamarri.

VUDA has proposed the township on ‘invest, develop and share’ basis while stipulating that the layout should be developed according to VUDA norms.

The Dakamarri land had originally been proposed for auction under its bulk land offerings. But later proposed for development in ‘public-private partnership.’ The proceeds from the process will go towards budgetary support to the State Government. The State Government has set a revenue contribution target of Rs.1,000 crores to VUDA.

The Dakamarri land abutting National Highway 43 will be given to the developer who assures the highest revenue, say VUDA sources. If the rate per acre is made along with the commitment for developing the layout, it will be okayed. Alternately, if a proposal comes for sharing of the plotted area and that fetches more money, it also will be considered. Sources say the timeframe for development (of the layout) will be taken into account at the time of considering the expression of interest.

Earlier auctions by VUDA in the Madhurawada region fetched it upwards of Rs.5 crores an acre and for a 44.25 acre plot it was Rs.2.14 crores an acre.

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