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Real Estate & Construction
VUDA plans land allotment
Our Bureau
VISAKHAPATNAM: The Visakhapatnam Urban Development Authority (VUDA) is planning to allot land at Rushikonda to a private developer for setting up a satellite township.
Mr D. Srinivasulu, its Vice-Chairman, said here on Saturday that Rushikonda with its beautiful beach and picturesque environs had the potential to attract tourists. The VUDA had sold plots at Rushikonda several years ago at cheap rates, but not many buyers had constructed houses.
``We have therefore thought of allotting land — 50 acres or so — to a developer for the township. It would have a swimming pool, tennis court, beautiful lawns and gardens to attract NRIs and other affluent sections. Thirteen firms have responded to our bid. The deal is still at a negotiation stage,'' he said.
He said the surrounding areas would also witness speedy growth, once the satellite township was set up.
He said the developer would have to develop 40 per cent of the area allotted to him and the rest would be under the control of the VUDA.
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