VMRDA finds 204 vacant plots worth Rs 100 crore in its layouts, ET RealEstate

September 9, 2023

<p>Representative Image</p>
Representative Image

VISAKHAPATNAM: The months-long exercise conducted by the Visakhapatnam Metropolitan Region Development Authority (VMRDA) has found 204 vacant plots and 134 odd bits in its layouts. Initial estimates have put the value of these plots at 100 crore.

Since its inception as Town Planning Trust in 1962, VMRDA has developed nearly 55 layouts (excluding one-cent layouts, MIG layouts, and reconstitution plot layouts) in the last six decades. The VMRDA teams visited each of these layouts to list out the plots that have not been sold in the earlier auctions or left vacant for future development purposes.

Visakhapatnam collector A Mallikarjuna, who is also the VMRDA metropolitan commissioner, said the urban planning body rolled out a transparent auction system through e-konugolu portal developed by AP technological services.

“VMRDA came to know that some private persons were manipulating the prices of plots during the auctions in their own business interests. But the e-konugolu auction system, introduced in July 2022, has eliminated all such malpractices. The bidders do not know how many are participating in the auction, the bid prices of other aspirants, or the final prices of sold plots in the same auction. This is not only saving manpower, but also time,” he said.

Mallikarjuna added that as many as 10 bulk lands and 146 plots were placed for disposal through e-konugolu in a phased manner in the last one year. “Of these, the sale of two bulk land parcels and 58 plots fetched 51.2 crore to the VMRDA. After obtaining necessary approvals from the government, VMRDA conducted a draw for allotment of LIG plots in Fortune Hills layout in January.

Of the 150 LIG plots, allotment has been completed for 148 plots. Similarly, an auction process is underway for vacant HIG and MIG plots in Fortune Hills,” he added.

While some plots are drawing bids at a premium price, sometimes almost double, compared to the upset prices, some plots are getting lukewarm response.

According to VMRDA officials, the existing or future potential of the location where the layout is located, personal preferences of bidders, market trends, infrastructure in the area, etc. will decide the price of the plots.

  • Published On Sep 9, 2023 at 09:19 AM IST

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