+
GVSCCL invites EoI for commercial project in Asilmetta
SMART CITIES

GVSCCL invites EoI for commercial project in Asilmetta

The Greater Visakhapatnam Smart City (GVSCCL), the special purpose vehicle floated by the Greater Visakhapatnam Municipal Corporation to implement Vizag smart city project, has invited an expression of interest from the private parties to commercially develop a 2.7-acre prime plot in Asilmetta area.

Asilmetta is one of the busy commercial centres of Visakhapatnam, housing showrooms of several national and international apparel, jewellery, and electronics brands. It is part of the city’s central business district. The land parcel is located only some 500 metres away from the Visakhapatnam bus station.

According to the GVMC officials, the proposed project has about 265 crore investment potential. The site would be required to be developed with a minimum gross built up area of 8.7 lakh square feet, including 6.56 lakh sft built-up area and 2.16 lakh sft parking area. The GVSCCL wants to develop the proposed structure as an iconic architectural building for the city.

According to the GVMC officials, the identified 2.7-acre land has the potential to be ideally developed as a commercial complex, mall, multiplex, hotel tower, and urban recreational centre. The development is envisaged through a single developer or a consortium. After the development of the project, the developer would share revenue with the GVSCCL.

The Greater Visakhapatnam Smart City (GVSCCL), the special purpose vehicle floated by the Greater Visakhapatnam Municipal Corporation to implement Vizag smart city project, has invited an expression of interest from the private parties to commercially develop a 2.7-acre prime plot in Asilmetta area.Asilmetta is one of the busy commercial centres of Visakhapatnam, housing showrooms of several national and international apparel, jewellery, and electronics brands. It is part of the city’s central business district. The land parcel is located only some 500 metres away from the Visakhapatnam bus station.According to the GVMC officials, the proposed project has about 265 crore investment potential. The site would be required to be developed with a minimum gross built up area of 8.7 lakh square feet, including 6.56 lakh sft built-up area and 2.16 lakh sft parking area. The GVSCCL wants to develop the proposed structure as an iconic architectural building for the city.According to the GVMC officials, the identified 2.7-acre land has the potential to be ideally developed as a commercial complex, mall, multiplex, hotel tower, and urban recreational centre. The development is envisaged through a single developer or a consortium. After the development of the project, the developer would share revenue with the GVSCCL.

Related Stories

Gold Stories

Next Story
Real Estate

Anshul Singhal launches Vantrock with Rs 42 billion development plan

Real estate professional Anshul Singhal has launched Vantrock Real Assets Private Limited (VRAPL), a Mumbai-headquartered platform focused initially on warehousing, industrial and logistics parks. The company plans to develop approximately 11.5 million sq ft of assets, with an estimated gross development value (GDV) of Rs 42 billion (approximately USD 434 million) on completion.The first phase will cover around 3 million sq ft across the National Capital Region (NCR), Bengaluru and Pune, with an estimated development value of Rs 11 billion (approximately USD 113 million). Construction is sched..

Next Story
Infrastructure Transport

Afcons wins CII award for biodiversity management

Afcons Infrastructure has received the Confederation of Indian Industry (CII) National Award for Environmental Best Practices 2026 in the Biodiversity Management category for its work on the Mumbai-Ahmedabad High Speed Rail Project’s C-2 package.The award was presented at a ceremony in Chennai on 9 October 2026. It was received by Mihir Mishra, Vice-President, CPE, and Sumon Paul, Assistant General Manager, HSE, along with the Afcons team.The project adopted several resource recovery and waste management practices. These included recycling concrete washout waste to recover sand, aggregates a..

Next Story
Technology

Indian businesses lead globally in planned AI investment, says Autodesk

Indian organisations are moving towards deeper integration of artificial intelligence (AI), digital technologies and sustainability into business operations, according to Autodesk’s 2026 State of Design & Make report. The fourth edition of the annual study highlights growing AI adoption, measurable outcomes from digital transformation and the role of sustainability in long-term business growth.The report found that 64 per cent of Indian organisations are approaching or have achieved their current AI goals. While 88 per cent believe AI will enhance their industry, up from 78 per cent in 2..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code