The Visakhapatnam Metropolitan Region Development Authority (VMRDA) will soon auction several bulk land parcels in Madhurawada and vacant plots within its previously developed layouts in Visakhapatnam and Vizianagaram districts.
The application process is currently underway.These VMRDA auctions will not only gauge the current market sentiment but also potentially influence real estate prices in neighbouring areas.
Six bulk land parcels, located in Madhurawada area, will go under the hammer on March 6. The upset price per square yard for these bits has been fixed at ₹67,500.
Auction for 31 vacant plots located in Kapuluppada, Kurmannapalem, Peda Gantyada, Marripalem, etc. will be held on March 7. The upset price for these plots is fixed based on the locality. For instance, the minimum price is ₹23,100 per square yard for the plots in Kapuluppada, whereas it is ₹32,000 per square yard in Simhapuri layout. The plots in Kanapaka Ayyannapeta layout in Vizianagaram will be auctioned at a base price of ₹20,000. The upset price per square yard for plots in Marripalem is ₹55,000.
Thirty-one more plots in KL Rao Nagar and Peda Gantyada will be auctioned on March 13 and 25 plots in Rushikonda, Cyber Vally, Kurmannapalem, etc. on March 14.