VUDA Nets Rs 21.63-Cr in Auctions, Observes Land Value is on the Rise

Published: 22nd September 2014 06:04 AM  |   Last Updated: 22nd September 2014 06:04 AM   |  A+A-

VISAKHAPATNAM: In the first ever indication at the booming real estate in Visakhapatnam city after state bifurcation, the sale of 36 plots in 12 layouts has fetched Rs 21.63 crore to the Visakhapatnam Urban Development Authority (VUDA). VUDA had put up 57 plots in 12 layouts in Visakhapatnam and Vizianagaram for sale through auction at the Andhra University Assembly Hall here this week.

The VUDA officials admitted that the plot prices soared compared to the previous auction held in July. “Though the same plots were carried forward from the previous auctions, bidding from the applicants was competitive and fetched unexpected prices for the plots in Sontyam, Madhurawada Government Lands Layout and Cyber Valley Layout. Even a left-over plot in Godavari Townships Joint Venture at Narava went up to Rs 10,350 per sq yard,” said an official.

A plot (no. 89) in Madhurawada Government Lands Layout in an extent of 1,029.17 sq yards received the highest bid of Rs 28,461 per sq yard.

Similarly, another plot (no.146), in an extent of 311.11 sq yards in the same layout was disposed at Rs 27,237 per sq yard.

In Sontyam Layout, plot no. MIG-A-1 in an extent of 676.95 sq yards received the highest bid of Rs 11,400 per sq yard, which was much higher than the highest bid in the previous auction. VUDA secretary GC Kishore Kumar conducted the auction proceedings.

Stay up to date on all the latest Andhra Pradesh news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp