Gold
VMRDA to Auction 13-Acre Prime Land in Visakhapatnam
08 Sep 2023 CW Team
The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has unveiled plans to auction a prised 13 acre land parcel in the heart of the city. This prime land, originally allotted to the Lulu Group, is set to go under the hammer in a significant real estate development move. The auction marks a pivotal moment in the region's urban expansion strategy.
The decision to auction the land stems from the need to optimise land usage and generate revenue for the city's infrastructure development. The auction process is expected to attract prominent real estate developers and investors keen on capitalising on Visakhapatnam's growth potential.
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