Vuda gets Rs 24.82 cr via auction of 63 plots

Through an auction of 63 plots, the Visakhapatnam Urban Development Authority (Vuda) has got a Rs 24.82 crore. The two-day auction of the plots in Visakhapatnam and Vizianagaram districts concluded in Visakhapatnam on October 18. On October 17, the first day of the auction, 25 plots were sold fetching a revenue of Rs 9.35 crore, the second day witnessed the sale of 38 plots which fetched the Vuda Rs 15.47 crore. The highest bid of Rs 24,537 per square yard as against the upset price of Rs 16,037 was received for plot number 65 in Cyber Valley layout at the auction. Plots in Madhurawada area were sold at an average rate of Rs 18,000 per square yard as against the average upset price of Rs 16,037. Vuda will issue another notification next month for the auction of 37 plots that remained unsold.