A new township will be coming up over 25.9 acres of land in Visakhapatnam. The township project, which will be built on government lands, is intended at offering feasible and affordable solutions to the local housing needs.
Located close to the IT hub in Madhurawada, and situated about 4 kilometres from Rushikonda, the chosen site will witness the project being taken over in the PPP model (Public-private Partnership). For the same, VMRDA (Visakhapatnam Metropolitan Region Development Authority) has invited bids from interested players.
“VMRDA will be providing the requisite land as an investment for the township project in Yendada. The remaining constructions will have to be taken over by the partner organisation. We have invited online bids from builders and developers for the same and the shortlisted organisations will have to submit a detailed project report. In all likelihood, the project will be handled in the PPP model, failing which, it will be taken over directly,” VMRDA Commissioner, Basant Kumar, said.
Reportedly, the proposed township is expected to feature multi-storeyed buildings as well. It has also been learned that the officials predict a square foot’s price to be around Rs 3500-Rs 3800. The township will also have roads connecting it to Madhurawada and the National Highway.