The Visakhapatnam Metropolitan Region Development Authority (VMRDA) is working on a project to develop new residential layouts in Anakapalli and in neighbouring Visakhapatnam district in order to tap the demand from people, particularly middle-class and executive cadre of various government and private institutions. The file of the proposed project has been brought to the notice of the Urban Development Authority of the State Government for approval along with any amendments or suggestions from it. Once the approval is received, the VMRDA will start the works and sell the layouts through an auction.
The layouts will be developed in an area of nearly 46 acres, to develop 538 plots, with an estimated revenue earning of around ₹185 crore from the sale of these plots. The estimated development charges of these plots is around ₹50 crore.
In Visakhapatnam district, 209 plots will be developed in an area of 20.48 acres at Kapuluppada in Bhimili mandal, with an estimated development cost of ₹14.51 crore. If all these plots are sold, the authority has estimated that it can rake in around ₹86 crore.
Similarly, 8.15 acres of land has been identified for development of 103 plots at Nidigattu in Bhimili mandal with an estimated revenue earnings of ₹23 crore and development charges of ₹5.19 crore.
A 4.7-acre plot of land has been identified in Chinna Mushidiwada in Pendurthi mandal and 84 plots will be developed with an estimated revenue earnings of ₹40 crore by selling the plots for ₹3.1 crore.
A 12.68 acre of land has been identified for the development of 142 plots at Tummapalem in Anakapalli district with an estimated revenue earnign of of ₹5 crore. Confirming this to The Hindu, VMRDA Joint Commissioner K. Ramesh said, “We have proposed to develop residential plots in three mandals in Visakhapatnam and Anakapalli districts in a phased manner.”
Officials from the planning department of VMRDA said that the project aims to tap the potential and demand for residential needs of the areas identified for future industrial, educational and tourism development. The government has planned several tourism projects in Bhimili. In Anakapalli the focus will be more on industrial and educational institutions. Already, the Indian Institute of Petroleum & Energy campus is coming up between Visakhapatnam and Anakapalli districts. Once it opens, the demand in those areas will be high. Similarly, Bhimili will also have high demand due to the rapid development of the international airport project near to the area (Bhogapuram in Vizianagaram district).
Published – November 15, 2024 08:57 am IST
