The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has identified 162 vacant plots in its layouts developed over a span of the last six decades. The VMRDA conducted a detailed exercise to list out these plots that have not been sold in the earlier auctions or left vacant for future development purposes.
The urban development authority has so far conducted two rounds of auctions for a total 78 of these 162 vacant plots. The sale of 31 plots (out of the 78 that have been put to auction) fetched about Rs 35 crore to the VMRDA. The VMRDA on Wednesday issued a fresh notification for the sale of 37 plots.
While some plots are drawing bids at a premium price, sometimes almost a double, compared to the upset prices, some plots are being left untouched by the public. According to observers, the prices fixed by the VMRDA are over and above market prices in some layouts, discouraging the public from bidding for these plots.
For instance, the VMRDA fixed Rs 45,000 per square yard for its plots in Pedagantyada layout, while the private developers are selling lands somewhere around Rs 35,000 to Rs 40,000 in the same area.
At the same time, one plot in Kurmannapalem was sold for Rs 71,000 per square yard against the upset price of Rs 35,000 in an auction conducted in January. Several plots got more than 20-100% premium compared to their base prices in the last two auctions.
VMRDA secretary T Venugopal said that all these vacant plots will be auctioned in a phased manner. “These vacant plots were identified through a strenuous exercise. The VMRA officials visited every layout to prepare this list. Meanwhile, the VMRDA has decided to divide the bulk lands, which were earlier proposed for a sale, into small plots to increase their saleability. The VMRDA is currently working on this.
The splitting of these lands, measuring about 20 acres and located in different parts of the combined Visakhapantam district, will depend on their locality and other factors. This is to make sure no land is wasted in the process,” said Venugopal.
On the other hand, the VMRDA is developing MIG (middle income group) layouts in Visakhapatnam, Vizianagaram, and Anakapalli districts.