News/City Updates

VMRDA analysing models of IT City project in Visakhapatnam

The Visakhapatnam Metropolitan Region Development Authority (VMRDA) is checking on the development model for the proposed IT city.

The IT city would be established by VMRDA in collaboration with Andhra Pradesh Urban Infrastructure Asset Management Limited (APUIAML) as a joint venture. It would be set up in  20 acres

The preliminary proposals suggest that VMRDA will develop a built-up area of 30 lakh square feet. In addition to a 1.37 lakh square feet parking area, the IT city project is also deemed to have other facilities such as malls, hotels, multiplex, etc. VMRDA has also proposed to develop three residential blocks in the area.

The IT city project would prove to be another asset to Visakhapatnam, the experts feel. Visakhapatnam has been deemed to emerge as the IT hub of Andhra Pradesh. The state government has inked pacts with multiple firms to equip the city with an ecosystem that promotes new age technologies like blockchain among others.

VMRDA Chairman P Basanth Kumar said

, “The VMRDA has put forth several development models including the one on PPP mode.”

This post was last modified on 17/09/2018 6:54 pm

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