Visakhapatnam Smart City receives 61 project approvals worth Rs 9.42 bn

10 Aug 2023 CW Team

Visakhapatnam, one of the quadrilateral cities in Andhra Pradesh, was chosen for the Smart Cities Mission following a competition held from 2015 to 2018. Union Minister of State for Housing and Urban Affairs, Kaushal Kishore, provided this information in response to a query raised by BJP MP GVL Narasimha Rao during a session in the Rajya Sabha.

Kishore disclosed that the city received approvals for 61 projects amounting to Rs 9.42 billion. Among these, 36 projects have already been successfully completed, utilising Rs 452.25 crore. He highlighted that the execution of projects under the Smart Cities Mission is carried out through Special Purpose Vehicles (SPVs), jointly owned by the respective State governments and local urban bodies. Any complaints received are directed to the State governments for necessary actions. Additionally, Kishore mentioned that the Union Ministry occasionally conducts third-party evaluations in certain cases.

Furthermore, GVL Narasimha Rao sought details about the funding allocated for the development and renovation of the VMRDA (Visakhapatnam Metropolitan Region Development Authority) Park and other associated projects.

Spanning across 33 acres, the VMRDA Park is divided into three zones and is being transformed into a Smart Park catering to all age groups. Kishore elaborated that the park will feature various recreational elements such as nature trails, cycling tracks, landscaping with herbal flora, a dedicated multi-purpose lawn with a yoga circle, food courts, separate sports arenas for badminton, tennis, and basketball, a children's play area, an outdoor gym zone, boating facilities, and expanded parking provisions. As of July 31, a total of Rs 307.6 million has been invested in the project.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..